Dena Bank Credit Card JV likely

There is good news for Dena Bank customers on the credit card front. Dena Bank is in the finalization stages of launching a credit card with SBI. Dena Bank has been into the Credit Card business for over a decade now. However, the division doesn’t have enough customer base yet. It is likely that the bank focused on its High Networth Individual customers for the issuance of credit cards.

Mr. Gairola, CMD of Dena Bank said,

We have not been very aggressive in this business. Our CC business has just 10,000 customers and we are confident of a tie-up with SBI Card to broaden our card base.

The deal being worked out is to take the process of card business as well as credit risk and a formula of profit sharing is being worked out.

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