Just some number crunching of RBI data on cards and bank’s reported CASA in the past. My analysis says there is bound to be some correlation between the 2(although not linear as there are a lot of other factors affecting it). Number of new debit cards issued should ideally be associated with new account openings. If past data is looked at, I get the below trend:
CASA per issued debit card for the last 3 quarters has a value of Rs 12400/debit card(average). Till 30th Nov’22, the bank has 55.12 lac debit cards outstanding(vs 50.07 lacs in Sep’22). Assuming that the bank adds 2 lac cards(at a minimum) in Dec’22, we will arrive at 57.15 lac cards for Dec’22.
Assuming that average CASA/debit card further trends down to 11600, we are still looking at a CASA of Rs 66300 crs for Dec’22 which will be a 10.5% QoQ growth in CASA.
Waiting for the quarterly update in the first week of Jan’23.Expecting the bank to report yet another stellar quarter for growth in Deposits and Loans.
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