RBL Bank is ending its cobranded credit card partnership with Bajaj Finance, but this move will not significantly impact its credit card business growth plans. The bank will continue to service the existing portfolio of 3.4 million co-brand credit cards and provide seamless customer support. The bank’s credit card advances have grown 17% year-on-year to ₹17,538 crore in Q2FY25. RBL Bank has diversified its co-branded partnerships with other NBFCs and consumer brands. The bank is focusing on cross-selling its products to card customers and has already begun to do so. Upon renewal, Bajaj Finance co-branded cards will be reissued as RBL Bank branded credit cards, with customers enjoying the same benefits and rewards. The bank has expanded its credit card issuance capabilities through direct channels and new co-brand partnerships, reducing its dependence on the Bajaj Finance partnership over the past year. As of October, RBL Bank had 51.74 lakh outstanding credit cards.
