The number of customers - active credit cards users in OTP Bank has 13% increased since the beginning of 2021
The number of customers - active credit cards users in OTP Bank has 13% increased since the beginning of 2021, - Yevgen Gruby, the Head of card business development and cross-selling of OTP Bank declared in his interview with ICTV.
According to him, the periods of quarantine restrictions were quite difficult for both banks and their customers, the volume and number of credit card transactions significantly deacreased. However, in the next 2 months, after the strict restrictions lifting, credit cards usage is reviving and continues to grow even now. This is usually due to holiday periods, where customers are more likely to use credit cards.
In general, according to Y. Hruby, the level of credit card usage in Ukraine has not yet reached the level of countries where this banking product is extremely popular (in particular, the United States or Turkey), but it moves increasingly in this direction: if a few years before, the average number of transactions per month with a credit card could amount to 2-3 transactions, today it reaches 10, sometimes more.
Although the credit card product is certainly complex, customers are no longer afraid to use it, in particular due to the introduction of mobile applications by banks, which have made the process of using and servicing credit cards more transparent and fast. Via their use, customers are able to instantly find out the balance, debt and minimum payment on the card, change the limits on transactions, check the movement of funds, etc.," Y. Hruby said.
According to him, the majourity of clients are ready to recieve credit limit of 20-22 ths UAH nowadays. "However, as a rule, most clients use no more than 50-60% of the limit per month, while the rest is left by them for unforeseen expenses," he highlighted.
More about OTP Bank credit cards following the link.
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Public Joint Stock Company OTP Bank is a subsidiary of OTP Bank, which is the largest independent Central-Eastern-European banking group. JSC OTP Bank is one of the largest domestic banks, a recognized leader in the financial sector of Ukraine. The Bank provides a full range of financial services to corporate and private customers, as well as to small and medium enterprises. The bank entered the Ukrainian market in 1998, and since then it enjoys a staunch reputation of socially responsible, reliable and stable institution providing its consumers with services of European quality standard.
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