NEWS & ADVICE : CREDIT CARDS
ICICI to be Back on Lead in the Credit Card Market with 500,000 New Cards in FY14
By Ankit Sharma
Sep 20, 2013
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The credit card issue rates from ICICI are about to shoot up in the FY14 by a sizzling 500,000 count. This would topple the position of HDFC as the leading credit card issuer. The current stats stand at 5.94 million for HDFC at the moment of the whole 19.15 Million base of the nation. This however, is a reduced amount in comparison to last year for HDFC. There has been a sharp increase already from 2.85 Million to 2.95 Million for ICICI just within a month’s time as of the end of June this year. We may remember the lead was lost by ICICI due to its shrinking of cards offered back in 2009. This is attributed to the high delinquency rates that the bank faced then. A spokesperson for ICICI has informed that the delinquency rate have been reduced by a huge leap in the current financial year and hence the decision to launch these new cards to the existing customer base.


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