Key Highlights
- HSBC led foreign banks with 216,997 new credit cards in FY25.
- American Express followed with 107,086 net additions.
- Standard Chartered recorded a decline of 158,322 cards.
- Across all banks, more than 8 million credit cards were issued.
Detailed Insights
Reserve Bank of India released the FY25 credit‑card statistics on 7 May 2025, revealing a sharp turnaround for foreign banks after a period of contraction.
HSBC’s growth of 216,997 cards represents a rebound of 38,693 cards compared to FY24, while American Express added 107,086 cards, a significant jump from the 11,450 cards added in FY24.
Standard Chartered’s decline of 158,322 cards underscores the competitive pressure from domestic lenders and the challenges of limited branch footprints.
The industry‑wide addition of over 8 million cards signals a robust consumer appetite for digital payments and credit, aligning with India’s push toward a cash‑less economy.
Key Concepts
- Net Credit Card Addition – The difference between new cards issued and cards cancelled within a fiscal year.
- Digital Payment Adoption – The rate at which consumers use electronic channels for transactions.
- Regulatory Compliance – Adherence to RBI norms such as data localisation and anti‑money‑laundering rules.
- Premium Customer Segment – High‑income consumers targeted by banks for higher‑margin products.