HDFC Bank partly recoups market share in credit card spends lost to embargo

RBI data shows that the bank has 28.4% market share in spends as of July, up 190 bps since last August. Pre-embargo, its share was 30.67%

The country’s largest credit issuer, HDFC Bank, has regained a large chunk of the market share in credit card spends that it had lost after an embargo was imposed on it for issuing new credit cards. The ban was subsequently lifted by the Reserve Bank of India in August 2021.

The latest RBI data shows that HDFC Bank has 28.4 per cent market share in spends as of July 2022, up 190 basis points since last August. 

Pre-embargo, HDFC Bank’s market share was 30.67 per cent. While it has recouped some of the market share it lost in card spends,