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The volume of credit cards market in Russia has exceeded $13 billion in the first quarter 2012. It is 15 % more than the index of the last three month 2011, reports The Vedomosty, referring to the Tinkoff Credit Systems research.
The share of Sberbank of Russia, the leader in credit cards market, has increased to 18.1% from 17.1%. Sberbank became the largest issuer of credit cards in the fourth quarter 2011.
The top five credit cards issuers, Sberbank of Russia, Russian Standard Bank, VTB 24, Vostochniy (bank), and TKS-Bank, control 55.7% of the market.
Author: Irina Fomina
