Festive Season Could Revive Credit Card Spending: Market Expert On SBI, ICICI, Kotak

Credit card spending is expected to pick up during India’s festive season from September to December, making the recent data less concerning for credit card companies. Sudip Bandyopadhyay, Market Expert, believes investors should hold rather than exit SBI Cards, ICICI Bank and Kotak. He remains positive on the broader banking space, particularly ICICI Bank and SBI. Strong recent performance, stable asset quality and improving lending conditions could support bank earnings. FCNR deposit mobilisation may also provide banks with additional liquidity for loan growth while helping lower their cost of capital and support margins. Overall, Sudip Bandyopadhyay expects the banking sector to perform well.