Credit card industry sees growth in Nov. after rare dip in Oct.

Monday, 3 January 2022 00:00 - - {{hitsCtrl.values.hits}}

The credit card industry has seen a marginal but welcome growth in November 2021 after suffering rare cancellations in October.

As per CBSL data, at the end of November, there were 1.902 million active credit cards in operation, up from 1.894 million in the previous month. October saw cancellation of around 60,000 cards as opposed to the September base of 1.956 million. Though November saw a rebound, the market has more room for growth to revert to the end of September base.

By end-November, the total outstanding balance was Rs. 128 billion, up from Rs. 124 billion in October and Rs. 121 billion in September.