I have 2 SBI credit cards and they are aggressive in marketing you can find sales agents in malls, airports.
Also SBI has an advantage that I read in its AR is 24% cards are issued to government employees who generally have an account as most goverment accounts are with SBI, and around 24% is salaried,
Its income is impacted by high cost of funds due to increase in repo rate though it manages to source money from its parent SBI its current COF is around 7.2% which could increase upto 8%, customers are being increasingly aware about high Rate of interest and due to various influencers educating on the optimal use of credit cards so the share of customers who revolve is reducing and due to this SBI cards is desperately trying to increase the interest income as recently in online sales too bank discount on Amazon and flipkart which seems to be an industry wide phenomenon as HDFC and other companies also used the same tactic.
So NIM shall contract but the growth in CC and spends is very very strong, with credit on UPI CC will become the most convenient way to pay as I use it daily.
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