Monthly Retail Spend On SBI Card Rises To ₹5000 Cr

Co-branded card portfolio is expected to double in the next two years by growing the existing partnerships and launching new programs in untapped categories:

SBI Card, in order to cater to the needs of diverse customer segments, has partnered with brands across categories offering the most relevant and rewarding solutions for the cardholders. Its present cardholder base is 4.68 million customers. It has also been on a continuous growth trajectory over the past few years, with customer base rising at 30% plus, and today it is the second largest card issuer in the country.

Says Vijay Jasuja, CEO: “SBI Card’s spends too have been growing steadily. We now have the second largest spends share in the industry, with monthly retail spends on our cards being upwards of ₹5000 crore.”

DIVERSIFIED PORTFOLIO

The culture of constant innovation in an endeavour to ‘Make Life Simple’ for customers is instrumental in driving SBI Card’s growth. This is reflected in its wide range of industry first products. Jasuja cites examples: “SimplyCLICK is a one of its kind card designed for today’s online generation, SBI Card Unnati is a unique card tailored for new users including Jan Dhan account holders and those without credit history, and SBI Card ELITE for SMEs is a premium card for SME customers and many others.”

In fact, SBI Card has the largest number of co-branded cards across the widest category spread, in the industry. In the travel and lifestyle space it has a strong foothold through tie-ups with market leading businesses and institutions such as Tatas, Future Group, Air India and IRCTC. In the retail segment, FBB SBI Styleup Card is the fastest growing and largest co-branded card in the country.