Delinquency in credit card industry improved by 5 bps in 2019: Report

The outstanding portfolio of private banks in the credit card space has increased by 59 per cent year-on-year while other issuers saw a 20 per cent growth in 2019 over 2018.

The overall volume delinquency in the credit card industry improved by 5 basis points (bps) in 2019 and stood at 0.8 per cent, with private banks improving their performance compared to other card financiers. As of December 2019, there are more than 50 million credit cards in circulation and portfolio of the credit card industry stood at Rs 1.24 trillion as of December 2019, growing at 44 per cent over the previous year.
 

According to a report by credit bureau CRIF High Mark, “Volume delinquency 30+ for private banks improved by 2 basis points over the previous year while volume