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SBI Card looks for more co-branding opportunities

SBI CardState Bank of India’s cards’ arm SBI Card is looking for co-branding of credit cards with more banks which do not have big back-office support, according to SBI Card CEO Vijay Jasuja. He said they are in talks with several other banks for co-branding of credit cards. These banks belong both in the public sector and small private sector banks. SBI Card already has co-branding partnerships with Karur Vysya Bank, Bank of Maharashtra, Oriental Bank of Commerce, Federal Bank and Lakshmi Vilas Bank. Since SBI Card is a separate company, it is able to have co-branding with other banks while others do not have that advantage since they were operating from their credit cards division, he said. SBI Card has a customer base of 3.75 million and the target is to add one million this financial year. In terms of market share, it was 15% in terms of numbers, 15% in terms of assets outstanding and 12% in terms of spends.

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