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Credit Cards - Spends, Cards In Force Continue To Grow; Receivable Per Card Yet To Pick Up: ICICI Securities

Credit Cards - Spends, Cards In Force Continue To Grow; Receivable Per Card Yet To Pick Up: ICICI Securities

<div class="paragraphs"><p>Close view of a person holding credit card. (Source: Pxhere.com)</p></div>
Close view of a person holding credit card. (Source: Pxhere.com)

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ICICI Securities Report

Industry-wide May 2022 credit card spends came in at Rs 1.1 trillion, up 8% month-on-month (third consecutive month of above Rs 1 trillion mark).

As per trends, June 2022 spends are likely to see some softness compared to May 2022 level but may remain above the Rs 1 trillion mark. SBI Cards and Payment Services Ltd.’s market share, in terms of spends, improved marginally month-on-month to 18.7% in May 2022 versus 18.6% in April-22.

Revival in air travel, hospitality sector as well as increasing inflation outlook set a positive backdrop to credit card spends as well as receivables.

Receivables are picking up with credit card outstanding ‘per card in force’ at industry level improving from ~Rs 18,000 as of December 2021 to ~Rs 20,000 for January-March-22; April-22 inched up to Rs 20,400 while May-22 retraced to Rs 20,000.

Click on the attachment to read the full report:

ICICI Securities Credit Cards Monthly Update.pdf

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