BMRI - Confident that credit cards growth will continue

BMRI - Confident that credit cards growth will continue Bank Mandiri (BMRI) is optimistic about the growth of moner credit cards amidst the onslaught of paylater products. The company is targeting credit card growth to reach double digits by the end of 2024. Bank Mandiri SVP Credit Cards Group Erin Young said that as one of the credit card issuers, the company assesses that the credit card business still has potential for banking; even Bank Mandiri continues to innovate by following customer needs. This year, BMRI is targeting credit card transaction growth to reach 25%. According to him, lifestyle is driving the growth in credit card use. Then, the rapid growth of credit cards was also driven by restaurant transactions, aka culinary, and travel, including hotels and trips. Currently, credit card sales volume at Bank Mandiri has grown above 20%. Meanwhile, as of April 2024, the number of Bank Mandiri credit card users will have reached 2 mn. "We are targeting new users to grow by 20% this year," he said. (Source: Bisnis Indonesia)