Credit Cards by Private Sector Banks

• Between January and July 2025, credit card issuance by private sector banks showed strong overall growth, though with contrasting trends across individual banks.

• HDFC Bank continued to dominate the market, crossing 2.5 crore cards by July, followed by ICICI Bank with over 1.81 crore cards, though ICICI saw fluctuations with a dip in May–June before recovering slightly. Axis Bank also maintained a strong position, steadily increasing to over 1.53 crore cards. IDFC First Bank emerged as one of the fastest-growing players, expanding from 3.38 crore cards in January to nearly 3.96 crore by July.

• Federal Bank also showed remarkable growth, crossing 15 lakh cards, while smaller players like CSB Bank, DCB Bank, and Dhanlaxmi Bank grew gradually from a low base.

• In contrast, Kotak Mahindra Bank and RBL Bank recorded consistent declines in their credit card base, while South Indian Bank and Tamilnad Mercantile Bank also saw steady erosion. Some banks, including Bandhan Bank, Karnataka Bank, and Nainital Bank, had either negligible or no presence in this segment.

• Overall, the data highlights the consolidation of market leadership among HDFC, ICICI, and Axis, alongside rapid scaling by IDFC First Bank and Federal Bank, while several mid-tier and smaller banks struggled to maintain momentum.