BOB Financial: Winning in tier-2 towns

Shailendra Singh, MD & CEO at BOB Financial, reveals the company approaches to products, partnerships, marketing, technology, expansion and more

Manoj Agrawal: Please share figures about card issuance, card usage, average transaction amount, average outstanding balance, NPA, etc.

Shailendra Singh: BOB Financial (wholly owned subsidiary of Bank of Baroda) has witnessed a significant increase in its credit card acquisition and spending figures for the current financial year. It has done a fresh acquisition of close to 1.1 million credit cards in the current financial year till now, which is twice the acquisition figure for last FY. Additionally, the monthly card spends have also increased by an impressive 260% year-on-year, reaching a total of about ₹17.5 billion.

The average ticket size (ATS) has increased by 18% over last year, which is also partial testimony of BOB Financial’s commitment to providing exceptional credit solutions to its customers, even in challenging economic times. Furthermore, the receivables growth has been more than 120% for the same period, while the non-performing assets (NPAs) have come down from 8.7% to 4.8% levels on a yoy basis. These figures highlight BOB Financial’s stability and growth trajectory.

We at BOB Financial are excited to continue delivering innovative credit solutions to our customers and are committed to maintaining this momentum in the years to come.

There are 22 credit cards shown on the company’s website, some of which are in partnership with other financial & non-financial organizations. Which kinds of organizations are most of these partnerships with? What kinds of companies do you expect to become partners in the future?