hdfc bank: HDFC bank earns 4 lakhs in new credit card users after RBI ban is lifted
NEW DELHI: Quickly ramping up its credit card acquisition, HDFC Bank issued 4 lakh of new credit cards after the RBI’s ban was lifted last month.
HDFC Bank has recorded more than 4 lakh of credit card issuance since the embargo was lifted, the private sector lender said at a press conference on Wednesday.
These new card issues date from September 21, 2021 and mark the bank’s aggressive growth trajectory that it mapped out after the embargo to reinvent and co-create the credit card portfolio with solid products and partnerships, a said HDFC bank.
HDFC Bank Payments, Consumer Credit, Digital Banking and IT group leader Parag Rao said the bank will increase its credit card acquisition very quickly and strive to win back soon. the lost market.
He said the bank has reached a record level of acquisitions across all customer segments and is poised to disrupt the industry with its best cards in all segments.
“We would like to accelerate our acquisition very quickly. We are very happy to announce that since the lifting of the embargo and until the end of September, we would have exceeded 4 lakh of new incremental card issuance in a very short period of time.
“In my opinion this is a very important step and I also think it is the most important in the industry in a very short time … we will have a strategy of continued growth as we move forward,” said Rao.
In mid-August, the RBI partially lifted the bank’s ban on issuing new credit cards in December last year due to several technology failures. The RBI continued with restrictions on new launches on the lender’s digital front.
HDFC Bank has recorded more than 4 lakh of credit card issuance since the embargo was lifted, the private sector lender said at a press conference on Wednesday.
These new card issues date from September 21, 2021 and mark the bank’s aggressive growth trajectory that it mapped out after the embargo to reinvent and co-create the credit card portfolio with solid products and partnerships, a said HDFC bank.
HDFC Bank Payments, Consumer Credit, Digital Banking and IT group leader Parag Rao said the bank will increase its credit card acquisition very quickly and strive to win back soon. the lost market.
He said the bank has reached a record level of acquisitions across all customer segments and is poised to disrupt the industry with its best cards in all segments.
“We would like to accelerate our acquisition very quickly. We are very happy to announce that since the lifting of the embargo and until the end of September, we would have exceeded 4 lakh of new incremental card issuance in a very short period of time.
“In my opinion this is a very important step and I also think it is the most important in the industry in a very short time … we will have a strategy of continued growth as we move forward,” said Rao.
In mid-August, the RBI partially lifted the bank’s ban on issuing new credit cards in December last year due to several technology failures. The RBI continued with restrictions on new launches on the lender’s digital front.