NEWS & ADVICE : CREDIT CARDS
ICICI acquired second position as credit card issuer in India
By Ankit Sharma
Jul 15, 2014
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It has been reported that the country’s second largest leading bank – ICICI bank has added 0.3 million credit card customer in the FY14. The bank has surpassed its rival banks in growing credit card base. The ICICI bank has added millions of the user more than the other financial institution.

A sharp fall of 1.39 million users is seen in the HDFC bank’s users- the leading bank in the list of Credit card issuers. Following the ICICI bank the SBI and Citi bank have increased their credit card user base by 0.26 million and 0.05 million, respectively. ICICI bank is now at the second position in the list of credit cards issuer in India with 3.21 million credit cards. However, the bank continues to maintain its stance that it remains cautious while offering unsecured credit.

On the other hand it has been noticed that despite of the increasing credit card base of the leading banks the total number of outstanding credit cards in the country continues to shrink. With in a year it has decreased from 19.55 million to 19.23 million.


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