SBI Card Leads Credit Card Additions In May; Spending Rises Across Top Issuers

SBI Card emerged as the leading credit card issuer in May 2026, adding the highest number of new cards among major lenders as spending continued to rise across the industry, reflecting sustained consumer demand.

According to Reserve Bank of India data, SBI Card added 1.82 lakh new credit cards during the month, the highest among the top issuers. Credit card spending on SBI cards increased 2% month-on-month to Rs 38,556 crore.

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ICICI Bank followed closely, adding 1.68 lakh new cards in May. Spending through ICICI Bank credit cards rose 1% from the previous month to Rs 32,818 crore.

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HDFC Bank, the country's largest credit card issuer by overall base, added 1.42 lakh cards during the month. Card spending increased 2% month-on-month to Rs 59,138 crore, the highest among the top five issuers.

Among other major players, Kotak Mahindra Bank added 54,000 new cards during May, while spending on its credit cards rose 6% to Rs 6,389 crore. Axis Bank added 52,000 cards during the month and recorded a 6% increase in spending, with total card spends reaching Rs 23,301 crore.

The data indicates continued growth in both card issuance and transaction volumes across major lenders, supported by steady consumer spending. While the pace of card additions varied among issuers, spending growth remained positive across the top five banks, ranging between 1% and 6% on a month-on-month basis.

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