IDBI Capital
Credit card spends saw a sharp rebound in Mar'26, rising to 2.20L Cr from 1.78L Cr in Feb'26. Spends increased ~23.8% MoM (vs ~10.9% decline in Feb'26), while YoY growth improved to ~8.9% (vs ~6.0%), driven by financial year-end transactions and higher discretionary spending. Cards-in-force continued to expand, reaching ~118.46 Mn, up ~7.8% YoY and ~0.7% MoM. Net new card additions remained stable at ~8.8 lakh, led by HDFCB (~0.5 lakh), AXISB (~1.3 lakh) and SBI (~1.3 lakh). Transaction volumes also rebounded strongly, rising ~16.8% MoM (vs ~8.6% decline in Feb'26) and ~25.2% YoY (vs ~24%), indicating...
Prabhudas Lilladhar released a Sector Update report for Banks on 15 Jun, 2026.
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