Oct 29, 2024 / 10:30AM GMT
Operator
Ladies and gentlemen, good day and welcome to the SBI Cards and Payment Services Limited Q2 FY25 earnings conference call. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Abhijit Chakravorty, MD and CEO. Thank you and over to you, sir.
Abhijit Chakravorty - SBI Cards and Payment Services Ltd - Chief Executive Officer, Managing Director, Director - State Bank of India Nominee
Thank you, Sheetal. And good evening everyone. I welcome you all to the earnings call along with my senior management team at SBI Card. A recent report on credit card market projects that the number of credit cards in India will reach 200 million by FY28, '29, with a CAGR of 15%, further establishing credit cards as a significant payment instrument.
September 2024 data indicates that credit card transactions in India reached 0.39 billion in volume, showing a 36% year-on-year growth in transaction volume, and 17.8% in spends value. The demand for credit cards remains strong as consumer spending is growing at a healthy
Q2 2025 SBI Cards and Payment Services Ltd Earnings Call Transcript
Oct 29, 2024
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