MoneyWorks4Me

SBI’s JV planning to double credit card customers in next 2 years: Report

18 Sep 2017 Evaluate

SBI Card, the joint venture (JV) between State Bank of India and GE Capital, is reportedly looking to double its credit card acquisition and improve its market share in the next two years. The company has worked out a strategy for doubling its credit card customers on an incremental basis month-on-month, by tapping the bank’s own customer base.

With a card base of close to 50 lakh, SBI Card is currently the second-largest issuer of credit cards after HDFC Bank. In terms of spend too, the company currently holds the second place with an average spend of Rs 5,500 crore a month.

SBI offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.



Peers
Company Name CMP
State Bank Of India 940.65
PNB 115.50
Bank Of Baroda 234.10
Canara Bank 117.20
Union Bank Of India 172.95
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