Hardayal Prasad, MD & CEO, SBI Card said in an emailed response that the company will leverage the strong customer base of SBI for acquisition of accounts. SBI Card is over 4 million cards behind the private sector lender at 7.9 million outstanding cards in the same period. While HDFC Bank’s market share is at 27.1%, SBI Card’s market share stood at 17.3%. “SBI Card is witnessing a tremendous growth phase and we will continue to evaluate new partnerships to support our business growth plans to sustain this momentum," added Prasad. In absolute terms, while SBI Card added 1.93 million cards over the last one year, HDFC Bank added 1.94 million cards.

Source: Mint May 05, 2019 06:33 UTC