Canara Bank to launch credit card subsidiary; announcement likely in 2-3 quarters: MD - Moneycontrol

Banks have been aggressively chasing growth in the high-return but unsecured credit card business. Axis Bank on March 30 announced the acquisition of Citibank’s India consumer business for $1.6 billion in an all-cash deal.

Canara Bank is in the initial stages of discussion for launching a separate credit card subsidiary of the bank, the lenders Managing Director and Chief Executive Officer LV Prabhakar told Moneycontro… [+3793 chars]

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