DBS Bank to enter India's credit card market next year

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MUMBAI: Southeast Asia's biggest bank DBS Group Holdings is preparing to enter the local credit card market in India in 2020, a senior company ...

MUMBAI: Southeast Asia's biggest bank DBS Group Holdings is preparing to enter the local credit card market in India in 2020, a senior company executive said on Tuesday .

Global rivals, such as Citigroup, are also looking to expand their credit card customer base in India. Earlier this year, India's top digital payments player Paytm announced plans to launch a card with Citi, giving the US bank an opportunity to service some of Paytm's more than 300 million clients. DBS, which had set a target of reaching a 5 million customer base in India by 2023, now expects to achieve this target early."We've crossed more than half the customer target already and hence we'll be able to cross the mark before the deadline," said Mr Sengupta.

Source: News Formal (newsformal.com)

 

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