Of Special Interest
6th March 2012
Citi Indian card expansion
Anand Selva, head of consumer banking for Citigroup in India told Reuters that he was expecting 20% annual increases in the number of Citibank credit card customers over the next two to three years within India. Citi currently has around 2.2m cards in India.
Selva argued that the current low penetration of credit cards plus the withdrawal of a number of foreign banks during the bank crisis gave Citigroup an excellent opportunity. There are approximately 17m credit cards in use within India.