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SBI Cards tops credit card additions in May as industry hits 12 crore milestone; spends grow 6.3% YoY
India's credit card sector has surpassed 12 crore cards, with new additions surging 33.7% year-on-year in May 2026. Despite robust cardholder growth, spending saw a modest 6.3% increase. SBI Cards led in new card issuance, while ICICI Bank and HDFC Bank also showed strong performance. This indicates a steady expansion of the cardholder base alongside moderating spending intensity.
Raccontata da
economictimes.indiatimes.com
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SBI Cards tops credit card additions in May as industry hits 12 crore milestone; spends grow 6.3% YoY
India's credit card sector has surpassed 12 crore cards, with new additions surging 33.7% year-on-year in May 2026. Despite robust cardholder growth, spending saw a modest 6.3%…
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India's active credit cards cross 120 million in May
Indias credit card market crossed 120 million active cards in May, driven by strong new additions even as spending growth slowed, according to RBI data. Net card additions rose…