Multiple choice

The ill-fated entry of the Tata Group in the credit cards market (through Tata Finance) ended with the sale of its portfolio. Which company took over the business?

  1. ICICI Bank

  2. HDFC Bank

  3. Yes Bank

  4. HSBC Bank

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

When Tata Group exited the credit card business through Tata Finance, ICICI Bank acquired their credit card portfolio in the early 2000s. This was part of ICICI's aggressive expansion in the retail credit card market. Other major banks like HDFC were also expanding but didn't acquire this specific portfolio.