DBS Bank India to launch credit card by June

DBS Bank India Limited, a hundred percent subsidiary of Singapore headquartered DBS Bank, will by June this year roll out its proprietary credit cards, Bharath Mani, Executive Director (Head-National Distribution) said.

This credit card offering will be targeted at mass affluent and above (premium segment, including HNIs), he said.

Mani highlighted that the credit card market opportunity is huge and demographics in India also work in favour of banks, such as DBS, to expand its play in the credit card segment (unsecured debt market).

Currently, DBS Bank India has co-branded credit card with Bajaj Finserv —Bajaj Finserv DBS Bank SuperCard.

Meanwhile, Mani said that DBS Bank India is also planning to foray into the affordable housing loans segment this fiscal. It will look to target mostly customers in the Tier II and Tier III cities for selling this product.