Credit Cards by Small Finance Banks

• In the small finance bank segment, AU Small Finance Bank continued to dominate the credit card space but showed a gradual decline, dropping from about 10.23 lakh cards in January 2025 to 9.68 lakh by August 2025. In contrast, several smaller players demonstrated rapid growth from a low base.

• Equitas Small Finance Bank expanded its credit card portfolio significantly—from just 65 cards in January to over 2,700 by August, while ESAF Small Finance Bank followed a similar trajectory, rising from 47 to 3,502 cards over the same period. Suryoday Small Finance Bank also saw a sharp increase, particularly after April, climbing from 29 cards in January to nearly 4,000 by August.

• Unity Small Finance Bank showed the most remarkable growth, from just 576 cards in April to over 29,000 by August, signaling an aggressive market entry. Utkarsh Small Finance Bank maintained steady and healthy growth, nearly doubling its base from 1.05 lakh to 1.85 lakh cards.

• Meanwhile, Capital, Jana, Shivalik, and Ujjivan Small Finance Banks reported no activity during the period. Overall, the data indicates that while AU Small Finance Bank remains the leader, younger entrants like Unity, Utkarsh, and Suryoday are driving the next phase of expansion in the small finance bank credit card segment.