Data Drive: Axis Bank-Citibank deal — An ace in the card game?
By acquiring Citi India’s retail banking business, Axis Bank will greatly benefit from the former’s high-value credit card business.
Citi India has the highest spend per credit card, which will help Axis Bank garner a higher fee income.
And, with increasing competition in credit card business, plain vanilla buy-now-pay later (BNPL) players will find it tough to continue because of limited revenue stream, high credit costs and high marketing spends.