Article in ET wealth on SBICARD:
- Will benefit from lower card penetration in India. Only 4 cards per 100 people.
- India’s young population and higher consumption, Robust Govt. Infra with strong growth in POS and Bharat QR Terminals, Govt. pust for Digitization, a growing e-commerce market.
- Despite UPI, credit card is still preferred for large ticket expenses.
- Long interest free credit periods and reward points continue to keep credit cards attractive.
- Cross selling opportunities for customer base from SBI Bank.
- High Investment in Technology.
- Strong retail & corporate spending is expected to provide growth stability.
Brokerages are giving TP of Rs. 930-960.
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