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HDFC Bank Credit Card Spend Rises 1.8% in August, Surpasses Sector Decline
Published: September 28, 2026
HDFC Bank’s credit‑card spending grew 1.8% month‑on‑month to ₹3,200 per transaction, while India’s total card spend fell 3% to ₹2.02 lakh crore. The uptick positions HDFC favorably ahead of Q3 earnings, with analysts flagging a consumer spending rebound.
HDFC Bank’s credit‑card spend climbed 1.8% month‑on‑month, lifting the average ticket to ₹3,200. The move contrasts with a 3% contraction in India’s total card spend, which slipped to ₹2.02 lakh crore.
RBI data shows transaction volumes rose 4.5% M/M, but the dip in average ticket size—down 12 rupees from ₹3,440 in July—kept overall spend in check.
The credit‑card base swelled to 12.41 crore cards, a 10.5% YoY jump, driven by 1.2 million new issues in August.
Private‑sector banks captured 73.3% of total card spend, up 1.21 percentage points from July. SBI Cards saw the steepest slide at 10.8% M/M, while Axis and ICICI fell 4.7% and 4.9% respectively.
Online transactions kept dominating, yet physical swipes at ATMs grew 9% YoY, outpacing the 3.9% rise in digital payments.
HDFC Bank’s upward trend bodes well for Q3 earnings, as analysts anticipate a rebound in consumer discretionary spending. RBI’s next data release in September could confirm whether the volume‑value divergence persists.