Context:
American Express (AmEx) and HSBC emerged as the top-performing foreign banks in net credit card additions in FY25, bucking the broader industry trend of decelerating growth in the credit card segment. The industry added over 8 million credit cards in total, reflecting a year-on-year slowdown.
American Express (AmEx)
American Express (AmEx) is a global payments company and financial services corporation known for its credit cards and other financial products. It offers a wide range of services, including credit cards, charge cards, payment processing, and travel-related benefits to individuals, businesses, and corporations. AmEx is headquartered in New York and operates in over 200 countries and territories, serving a global customer base.
HSBC
HSBC, formally known as The Hongkong and Shanghai Banking Corporation Limited, is a global financial institution founded in 1865 with the purpose of facilitating trade between Europe and Asia. As described by HSBC, they aim to open up opportunities for their customers by leveraging their expertise, capabilities, and perspectives. Today, HSBC serves a global network of customers, including individuals, corporations, and governments, across 58 countries and territories.
