Private lender HDFC Bank issues record credit cards in third quarter

According to RBI data, at the end of August 2021, HDFC Bank's outstanding credit card base stood at 14.74 million

In the quarter gone by (Q3 of FY22), private lender HDFC Bank issued around 950,000 credit cards, its highest ever credit card issuance in any single quarter.

Since the Reserve Bank of India (RBI) revoked the embargo on it in August 2021 to issue new credit cards, the lender has issued 1.37 million credit cards. This is according to a senior bank executive, who was present in an analysts’ call after the lender’s Q3 earnings.

“In Q3, we achieved the highest ever issuance, with 950,000 card issuances. Since late August, when we recommenced issuing new cards, we have so far issued 1.37