Credit Card Offers Made Easy

Your Step by Step Credit Card Guide

Tag Archives: Kotak Mahindra

Kotak Mahindra Bank targets 30% rise in card biz

Written by Oliver Laker on February 23, 2011.

Private sector lender, Kotak Mahindra Bank is targetting a 25-30% increase in revenue from its credit card business in the upcoming two years time, informed a top official of the bank.

“We are quite bullish about the retail business, especially the credit card portfolio. We expect the division to contribute around 25-30% to the total earnings in the next 2-3 years,” Kotak Mahindra Group Head (Retail Liabilities & Branch Banking) K V S Manian said.

The current revenue from the card business accounts to 15% of the total business earned by the bank and is operational from the 12 major cities where it has operations.

From the current service being offered from 12 cities, the bank plans to add 8 more cities to the count by this fiscal, said Manian.

According to Business Head (Credit Cards) of the bank, Subrat Pani, there has been a tie up of the bank with multiplex chain-PVR so as to offer co branded cards.

“This is the first such card of its kind in India.

Read Full Text…