RBL Bank, which derives 18 percent of its loan portfolio from credit cards, is expecting new plastic issuances to halve and a fall in spends as well in FY21 but is confident of the overall revenues from the segment remaining intact. However, the economic climate will result in an increase in credit costs, or money being set aside for possible loan losses, by over 30 percent in the cards segment.
RBL Bank operates as a scheduled commercial bank. The bank offers its services under the five business verticals including corporate and institutional banking, commercial banking, retail banking, agri and development banking and financial markets. The bank was founded in 1943 and is based in Kolhapur, Maharashtra.
