Foreign Banks' Credit Card Base Declines as Indian Lenders Expand in 2025

In 2025, foreign banks in India experienced a roughly 6% year-on-year decline in active credit cards and a drop of over 63 basis points in their share of total credit card spending, reducing their market share below 5% by January 2026. This contraction reflects their cautious growth and focus on premium segments. Major foreign issuers like American Express, Standard Chartered, and DBS saw significant card base reductions, while HSBC and SBM Bank India expanded their portfolios. Meanwhile, domestic private banks continued rapid market growth.