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State Bank Of India
BSE: 500112 | NSE: SBIN
Large Cap | Bank - Public
1017.15
-60.40 (-5.61%) SBI’s JV planning to double credit card customers in next 2 years: Report
Date: 18-09-2017SBI 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.