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SBI Cards & Payment Services Results: Latest Quarterly Results & Analysis

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SBI Cards and Payment Services Ltd. 24 Oct 2025 18:20 PM

Q2FY26 Quarterly Result Announced for SBI Cards and Payment Services Ltd.

Finance company SBI Cards and Payment Services announced Q2FY26 results

Q2FY26 Financial Highlights:

  • Total Revenue increased by 13% YoY at Rs 5,136 crore in Q2FY26 vs Rs 4,556 crore in Q2FY25.
  • PAT at Rs 445 crore in Q2FY26 vs Rs 404 crore in Q2FY25.
  • ROAA at 2.6% in Q2FY26 vs 2.7% in Q2FY25.
  • ROAE at 12.1% in Q2FY26 vs 12.5% in Q2FY25.
  • Capital Adequacy Ratio at 22.5%; Tier 1 at 17.5%.
  • Asset Quality The Gross non-performing assets were at 2.85% of gross advances as of September 30, 2025, as against 3.27% as of September 30, 2024. Net non-performing assets were at 1.29% as of September 30, 2025, as against 1.19% as of September 30, 2024.

Business Highlights:

  • Cards-in-force grew by 10% YoY at 2.15 crore as of Q2FY26 vs 1.96 crore as of Q2FY25.
  • New accounts volume at 936K in Q2FY26 vs 904K new accounts in Q2FY25.
  • Spends grew by 31% YoY at Rs 107,063 crore in Q2FY26 vs Rs 81,893 crore in Q2FY25.
  • Receivables grew by 8% YoY at Rs 59,845 crore in Q2FY26 vs Rs 55,601 crore in Q2FY25.
  • Market share for Q2FY26 Card-in-force is at 19.0% (Q2FY25: 18.5%), Spends is at 17.0% (Q2FY25: 15.7%), #2 for Cards-in-force and #3 for spends, in industry.

Result PDF

Finance company SBI Cards and Payment Services announced Q1FY26 results

  • Total income increased by 12% at Rs 5,035 crore in Q1FY26 v/s Rs 4,483 crore in Q1FY25. This movement was a result of the following key factors:
    • Interest income increased by 11% at Rs 2,493 crore in Q1FY26 v/s Rs 2,243 crore in Q1FY25.
    • Fees and commission income was up by 13% at Rs 2,384 crore in Q1FY26 v/s Rs 2,115 crore in Q1FY25.
  • Finance costs increased by 6% at Rs 813 crore in Q1FY26 v/s Rs 767 crore in Q1FY25 due to higher receivables.
  • Total Operating cost increased by 17% at Rs 2,123 crore in Q1FY26 v/s Rs 1,816 crore in Q1FY25.
  • Earnings before credit costs increased by 11% at Rs 2,100 crore in Q1FY26 v/s Rs 1,900 crore in Q1FY25
  • Impairment losses & bad debts expenses increased by 23% at Rs 1,352 crore in Q1FY26 v/s Rs 1,101 crore in Q1FY25.
  • Profit after tax was down 6% at Rs 556 crore in Q1FY26 v/s Rs 594 crore in Q1FY25
  • Balance Sheet as of June 30, 2025:
    • Total Balance Sheet size as of June 30, 2025 has been Rs 66,009 crore as against Rs 65,546 crore as of March 31, 2025.
    • Total Gross Advances (croreedit card receivables) as of June 30, 2025 were Rs 56,607 crore, as against Rs 55,840 crore as of March 31, 2025.
    • Net worth as of June 30, 2025 has been Rs 14,413 crore as against Rs 13,853 crore as of March 31, 2025
  • Asset Quality: The Gross non-performing assets were at 3.07% of gross advances as of June 30, 2025, as against 3.06% as of June 30, 2024. Net non-performing assets were at 1.42% as of June 30, 2025, as against 1.11 % as of June 30, 2024.
  • Capital Adequacy:
    • As per the capital adequacy norms issued by the RBI, Company's capital to risk ratio consisting of Tier I and Tier II capital should not be less than 15% of its aggregate risk weighted assets on - balance sheet and of risk adjusted value of off-balance sheet items. As of June 30, 2025, Company's CRAR was 23.2% compared to 20.6% as of June 30, 2024.
    • The Tier I capital in respect of an NBFC-ND-SI, at any point of time, can'Rs be less than 10%. Company's Tier I capital was 17.9% as of June 30, 2025, compared to 16.8% as of June 30, 2024.

Result PDF

Finance company SBI Cards and Payment Services announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Total income increased by 8% to Rs 4,832 crore in Q4FY25 vs Rs 4,475 crore in Q4FY24. This movement was a result of the following key factors:
    • Interest income increased by 13% to Rs 2,415 crore in Q4FY25 vs Rs 2,139 crore in Q4FY24.
    • Fees and commission income increased by 2% to Rs 2,259 crore in Q4FY25 vs Rs 2,209 crore in Q4FY24.
  • Finance costs increased by 10% to Rs 795 crore in Q4FY25 vs Rs 724 crore in Q4FY24.
  • Total Operating cost increased by 8% to Rs 2,073 crore in Q4FY25 from Rs 1,918 crore in Q4FY24.
  • Earnings before credit costs increased by 7% to Rs 1,964 crore in Q4FY25 vs Rs 1,833 crore in Q4FY24.
  • mpairment losses & bad debts expenses increased by 32% at Rs 1,245 crore in Q4FY25 vs Rs 944 crore in Q4FY24.
  • Profit after tax decreased by 19% at Rs 534 crore in Q4FY25 vs Rs 662 crore in Q4FY24.

FY25 Financial Highlights:

  • Total income increased by 7% to Rs 18,637 crore in FY25 vs Rs 17,484 crore in FY24.
  • Finance costs increased by 22% to Rs 3,178 crore in FY25 vs Rs 2,595 crore in FY24.
  • Total Operating cost decreased by 4% to Rs 8,007 crore in FY25 vs Rs 8,369 crore in FY24.
  • Earnings before credit cost increased by 14% to Rs 7,452 crore in FY25 vs Rs 6,519 crore in FY24.
  • Impairment losses & bad debts expenses increased by 48% to Rs 4,872 crore in FY25 vs Rs 3,287 crore in FY24.
  • Profit after tax decreased by 20% at Rs 1,916 crore in FY25 vs Rs 2,408 crore in FY24.
  • Balance Sheet as of March 31, 2025:
    • Total Balance Sheet size as of March 31, 2025 has been Rs 65,546 crore as against Rs 58,171 crore as of March 31, 2024.
    • Total Gross Advances (croreedit card receivables) as of March 31, 2025 were Rs 55,840 crore, as against Rs 50,846 crore as of March 31, 2024.
    • Net worth as of March 31, 2025 has been Rs 13,853 crore as against Rs 12,156 crore as of March 31, 2024.
  • Asset Quality:
    • The Gross non-performing assets were at 3.08% of gross advances as of March 31, 2025 as against 2.76% as of March 31, 2024. Net non-performing assets were at 1.46% as of March 31, 2025 as against 0.99% as of March 31, 2024.
  • Capital Adequacy:
    • As per the capital adequacy norms issued by the RBI, Company’s capital to risk ratio consisting of tier I and tier II capital should not be less than 15% of its aggregate risk weighted assets on - balance sheet and of risk adjusted value of off-balance sheet items. As of March 31, 2025, Company’s CRAR was 22.9% compared to 20.5% as of March 31, 2024.
    • The tier I capital in respect of an NBFC-ND-SI, at any point of time, can’t be less than 10%. Company’s Tier I capital was 17.5% as of March 31, 2025 compared to 16.5% as of March 31, 2024.

Result PDF

Finance company SBI Cards and Payment Services announced Q3FY25 results

  • Total Revenue increased by 1% YoY at Rs 4,767 crore in Q3FY25 v/s Rs 4,742 crore in Q3FY24.
  • PAT decreased by 30% YoY at Rs 383 crore in Q3FY25 v/s Rs 549 crore in Q3FY24.
  • ROAA at 2.4% in Q3FY25 v/s 4.0% in Q3FY24.
  • ROAE at 11.5% in Q3FY25 v/s 19.3% in Q3FY24.
  • Capital Adequacy Ratio at 22.9%; Tier 1 at 17.0%
  • New accounts volume up by 7% at 1, 175K in Q3FY25 v/s 1,096K in Q3FY24.
  • Cards-in-force grew by 10% at 2.02 crore as of Q3FY25 v/s 1.85 crore as of Q3FY24.
  • Retail Spends grew by 10% at Rs 80,792 crore in Q3FY25 v/s Rs 73,519 crore in Q3FY24.
  • Receivables grew by 120/o at Rs 54,773 crore in Q3FY25 v/s Rs 48,850 crore in Q3FY24.
  • Market share for Card-in-force 18.7% (as of Dec'24: 18.9%), Spends 15.6% (for 9M of FY24: 18.3% ). As of Dec'24, #2 for Cards-in-force and #3 for spends, in industry
  • Total income increased by 1 % at Rs 4,767 crore in Q3FY25 v/s Rs 4,742 crore in Q3FY24. This movement was a result of the following key factors:
    • Interest income increased by 15% at Rs 2,399 crore in Q3FY25 v/s Rs 2,082 crore in Q3FY24.
    • Fees and commission income decreased by 13% at Rs 2,220 crore in Q3FY25 v/s Rs 2,539 crore in Q3FY24.
  • Finance costs increased by 19% at Rs 829 crore in Q3FY25 v/s Rs 695 crore in Q3FY24.
  • Total Operating cost decreased by 13% at Rs 2,107 crore in Q3FY25 from Rs 2,426 crore in Q3FY24.
  • Earnings before credit costs increased by 13% at Rs 1,831 crore in Q3FY25 v/s Rs 1,620 crore in Q3FY24.
  • Impairment on financial instruments increased by 49% at Rs 1313 crore in Q3FY25 v/s Rs 883 crore in Q3FY24
  • Profit after tax decreased by 30% at Rs 383 crore in Q3FY25 v/s Rs 549 crore in Q3FY24.
  • Asset Quality: The Gross non-performing assets were at 3.24% of gross advances as of December 31, 2024, as against 2.64% as of December 31, 2023. Net non-performing assets were at 1.18% as of December 31, 2024, as against 0.96% as of December 31, 2023.
  • Capital Adequacy:
    • As per the capital adequacy norms issued by the RBI, Company's capital to risk ratio consisting of Tier I and Tier II capital should not be less than 15% of its aggregate risk weighted assets on balance sheet and of risk adjusted value of off balance sheet items. As of December 31, 2024, Company's CRAR was 22.9% compared to 18.4% as of December 31, 2023.
    • The Tier I capital in respect of an NBFC-ND-SI, at any point of time, cant be less than 10%. Company's Tier I capital was 17.0% as of December 31, 2024, compared to 16.3% as of December 31, 2023.

Result PDF

Finance company SBI Cards and Payment Services announced Q2FY25 results

  • Total income increased by 8% at Rs 4,556 crore in Q2FY25 v/s Rs 4,221 crore in Q2FY24. This movement was a result of the following key factors:
    • Interest income increased by 20% at Rs 2,290 crore in Q2FY25 v/s Rs 1,902 crore in Q2FY24.
    • Fees and commission income declined 2% at Rs 2,131 crore in Q2FY25 v/s Rs 2,186 crore in Q2FY24.
  • Finance costs increased by 30% at Rs 788 crore in Q2FY25 v/s Rs 605 crore in Q2FY24 due to higher receivables.
  • Total Operating cost decreased by 3% at Rs 2,011 crore in Q2FY25 from Rs 2,066 crore in Q2FY24.
  • Earnings before credit costs increased by 13% at Rs 1,757 crore in Q2FY25 v/s Rs 1,551 crore in Q2FY24.
  • Impairment losses & bad debts expenses increased by 63% at Rs 1,212 crore in Q2FY25 v/s Rs 742 crore in Q2FY24.
  • Profit after tax decreased by 33% at Rs 404 crore in Q2FY25 v/s Rs 603 crore in Q2FY24.
  • Business Highlights :
    • Cards-in-force grew by 10% YoY at 1.96 crore as of Q2FY25 v/s 1.79 crore as of Q2FY24.
    • New accounts volume at 904K in Q2FY25 v/s 1,142K new accounts in Q2FY24.
    • Spends grew by 3% YoY at Rs 81,893 crore in Q2FY25 v/s Rs 79,164 crore in Q2FY24.
    • Receivables grew by 23% YoY at Rs 55,601 crore in Q2FY25 v/s Rs 45,078 crore in Q2FY24.
    • Market share for Q2FY25 Card-in-force is at 18.5% (Q2FY24: 19.2%), Spends is at 15.7% (Q2FY24: 18.0%), #2 for Cards-in-force and #3 for spends, in industry.
  • Asset Quality:
    • The Gross non-performing assets were at 3.27% of gross advances as of Q2FY24, as against 2.43% as of Q2FY24. Net non-performing assets were at 1.19% as of Q2FY24, as against 0.89% as of Q2FY24.
  • Capital Adequacy:
    • As per the capital adequacy norms issued by the RBI, Company's capital to risk ratio consisting of Tier I and Tier II capital should not be less than 15% of its aggregate risk weighted assets on - balance sheet and of risk adjusted value of off-balance sheet items. As of Q2FY24, Company's CRAR was 22.1% compared to 23.3% as of Q2FY24.

Result PDF

Finance company SBI Cards and Payment Services announced Q1FY25 results:

Financial Highlights:

  • Total Revenue increased by 11% YoY at Rs 4,483 crore in Q1FY25 v/s Rs 4,046 crore in Q1FY24
  • PAT at Rs 594 crore in Q1FY25 v/s Rs 593 crore in Q1FY24
  • ROAA at 4.1% in Q1FY25 v/s 5.0% in Q1FY24
  • ROAE at 19.1% in Q1FY25 v/s 23.3% in Q1FY24
  • Capital Adequacy Ratio at 20.6%; Tier 1 at 16.8%

Business Highlights:

  • Cards-in-force grew by 11% YoY at 1.92 crore as of Q1FY25 v/s 1.73 crore as of Q1FY24
  • New accounts volume at 904K in Q1FY25 v/s 1,097K new accounts in Q1FY24
  • Spends grew by 4% YoY at Rs 77,129 crore in Q1FY25 v/s Rs 73,913 crore in Q1FY24
  • Receivables grew by 22% YoY at Rs 52,705 crore in Q1FY25 v/s Rs 43,271 crore in Q1FY24
  • Market share for Q1FY25 Card-in-force is at 18.5% (Q1FY24: 19.6%), Spends is at 15.9% (Q1FY24: 17.8%), #2 for Cards-in-force and #3 for spends, in industry

Result PDF

Finance company SBI Cards and Payment Services announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Total income increased by 14% at Rs 4,475 crore in Q4FY24 vs Rs 3,917 crore in Q4FY23.
  • Finance costs increased by 43% at Rs 724 crore in Q4FY24 vs Rs 507 crore in Q4FY23
  • Total Operating cost decreased by 3% at Rs 1,918 crore in Q4FY24 from Rs 1,980 crore in Q4FY23
  • Earnings before credit costs increased by 28% at Rs 1,833 crore in Q4FY24 vs  Rs 1,429 crore in Q4FY23 
  • Total Revenue increased by 14% YoY at Rs 4,475 crore in Q4FY24 vs Rs 3,917 crore in Q4FY23
  • PAT increased by 11% YoY at Rs 662 crore in Q4FY24 vs Rs 596 crore in Q4FY23
  • ROAA at 4.7% in Q4FY24 vs 5.4% in Q4FY23
  • ROAE at 22.2% in Q4FY24 vs 24.6% in Q4FY23
  • Capital Adequacy Ratio at 20.5%; Tier 1 at 16.5%

FY24 Financial Highlights:

  • Total income increased by 22% at Rs 17,484 crore in FY24 vs Rs 14,286 crore in FY23
  • Finance costs increased by 58% at Rs 2,595 crore in FY24 vs Rs 1,648 crore in FY23
  • Total Operating cost increased by 12% at Rs 8,369 crore in FY24 vs Rs 7,448 crore in FY23.
  • Earnings before credit cost increased by 26% at Rs 6,519 crore in FY24 vs Rs 5,190 crore in FY23
  • Impairment losses & bad debts expenses increased by 52% at Rs 3,287 crore in FY24 vs Rs 2,159 crore in FY23
  • Profit after tax increased by 7% at Rs 2,408 crore in FY24 vs Rs 2,258 crore in FY23

Result PDF

Non-banking Financial company SBI Cards & Payments Services announced Q3FY24 results:

Financial Performance:

  • Revenue: The total revenue of the company saw a significant increase of 30% YoY, with Q3FY24 revenue being Rs 4,742 crore compared to Rs 3,656 crore in Q3FY23.
  • Profit After Tax (PAT): PAT grew by 8% YoY to Rs 549 crore in Q3FY24, up from Rs 509 crore in the same quarter of the previous year.
  • Return on Assets (ROAA): The ROAA was recorded at 4.1% in Q3FY24, witnessing a decline from 4.8% in Q3FY23.
  • Return on Equity (ROAE): ROAE stood at 19.2% in Q3FY24, a decrease from 22.0% in Q3FY23.
  • Capital Adequacy Ratio: The company maintains a capital adequacy ratio (CRAR) of 18.4% with Tier 1 capital at 16.3%.

Business Development:

  • New Accounts: The volume of new accounts was down by 33%, with 1,096K new accounts in Q3FY24 compared to 1,634K in Q3FY23.
  • Cards in Force: There was a 16% growth in cards in force, reaching 1.85 crore as of Q3FY24 from 1.59 crore as of Q3FY23.
  • Spends: Card spend increased significantly by 41%, with Rs 96,860 crore in Q3FY24 compared to Rs 68,835 crore in Q3FY23.
  • Receivables: The receivables showed a growth of 26%, rising to Rs 48,850 crore in Q3FY24 from Rs 38,626 crore in Q3FY23.
  • Market Share: Market share for card-in-force stood at 18.9% (FY23: 19.7%), while spends had a market share of 18.3% (FY23: 18.2%).

Earnings Components:

  • Interest Income: Interest income rose by 29% to Rs 2,082 crore in Q3FY24 from Rs 1,609 crore in Q3FY23.
  • Non-Interest Income: There was an increase of 34% in non-interest income, which amounted to Rs 2,539 crore in Q3FY24, up from Rs 1,898 crore in Q3FY23.
  • Finance Costs: Finance costs went up by 50% to Rs 695 crore in Q3FY24 compared to Rs 464 crore in Q3FY23.
  • Operating Costs: Total operating costs increased by 23%, standing at Rs 2,426 crore in Q3FY24 as opposed to Rs 1,974 crore in Q3FY23.

Asset Quality:

  • Gross NPAs: Gross non-performing assets were 2.64% of gross advances as of December 31, 2023, against 2.35% as of March 31, 2023.
  • Net NPAs: Net non-performing assets were at 0.96% as of December 31, 2023, compared to 0.87% as of March 31, 2023.

Capital and Ratings:

  • Total Balance Sheet Size: As of December 31, 2023, the total balance sheet size reached Rs 55,576 crore, up from Rs 45,546 crore as of March 31, 2023.
  • Net Worth: The net worth of the company was Rs 11,724 crore as of December 31, 2023, an increase from Rs 9,902 crore as of March 31, 2023.
  • Ratings: The company boasts a CRISIL long-term rating of AAA/Stable and a short-term rating of A1 . Similarly, ICRA has also rated the company AAA/Stable for the long-term and A1 for the short-term.

 

Result PDF

Non-banking Financial company SBI Cards and Payment Services announced Q2FY24 & H1FY24 results:

  • Q2FY24:
    • Total Revenue increased by 22% YoY at Rs 4,221 crore in Q2FY24 v/s Rs 3,453 crore in Q2FY23
    • PAT increased by 15% YoY at Rs 603 crore in Q2FY24 v/s Rs 526 crore in Q2FY23
    • ROAA at 4.9% in Q2FY24 v/s 5.4% in Q2FY23
    • ROAE at 22.3% in Q2FY24 v/s 24.1% in Q2FY23
    • Capital Adequacy Ratio at 23.3%; Tier 1 at 20.8%
    • New accounts volume down by 12% at 1,142K in Q2FY24 v/s 1295K in Q2FY23
    • Cards-in-force grew by 21% YoY at 1.79 crore as of Q2FY24 v/s 1.48 crore as of Q2FY23
    • Spends grew by 27% YoY at Rs 79,164 crore in Q2FY24 v/s Rs 62,306 crore in Q2FY23
    • Receivables grew by 19% YoY at Rs 45,078 crore in Q2FY24 v/s Rs 37,730 crore in Q2FY23
    • Market share for Card-in-force 19.2% (Q2FY23: 19.1 %), Spends 18.0% (Q2FY23: 17.8%). For Q2FY24, #2 for both, Cards-in-force and spends, in industry
  • H1FY24:
    • Total income increased by 23% at Rs 8,268 crore in H1FY24 v/s Rs 6,716 crore in H1FY23. This movement was a result of the following key factors:
      • Interest income increased by 29% at Rs 3,706 crore in H1FY24 v/s Rs 2,872 crore in H1FY23
      • Fees and commission income increased by 23% at Rs 3,872 crore in H1FY24 v/s Rs 3,149 crore in H1FY23
    • Finance costs increased by 74% to Rs 1,176 crore in H1FY24 v/s Rs 676 crore in H1FY23.
    • Total operating cost increased by 15% at Rs 4,025 crore in H1FY24 v/s Rs 3,497 crore in H1FY23
    • Earnings before credit cost increased by 21% at Rs 3,066 crore in H1FY24 v/s Rs 2,543 crore in H1FY23.
    • Impairment on financial instruments increased by 47% at Rs 1,460 crore in H1FY24 v/s Rs 996 crore in H1FY23.
    • Profit after tax increased by 4% to Rs 1,196 crore in H1FY24 vs Rs 1,153 crore in H1FY23.

 

 

Result PDF

Non-Banking Financial Services company SBI Cards and Payment Services announced Q4FY23 & FY23 results:

  • Q4FY23:
    • Total Revenue increased by 30% YoY at Rs 3,917 crore in Q4FY23 vs Rs 3,016 crore in Q4FY22
    • PAT increased by 3% YoY at Rs 596 crore in Q4FY23 vs Rs 581 crore in Q4FY22
    • ROAA at 5.4% in Q4FY23 vs 7.0% in Q4FY22
    • ROAE at 24.6% in Q4FY23 vs 30.4% in Q4FY22
    • Capital Adequacy Ratio at 23.1 %; Tier 1 at 20.4%
    • Finance costs increased by 90% at Rs 507 crore in Q4FY23 vs Rs 267 crore in Q4FY22
    • Total Operating cost increased by 26% at Rs 1,980 crore in Q4FY23 from Rs 1,577 crore in Q4FY22
    • Impairment losses & bad debts expenses increased by 60% at Rs 630 crore in Q4FY23 vs Rs 393 crore in Q4FY22
  • FY23:
    • Total income increased by 26% at Rs 14,286 crore in FY23 vs Rs 11,302 crore in FY22
    • Finance costs increased by 60% at Rs 1,648 crore in FY23 vs Rs 1,027 crore in FY22
    • Total Operating cost increased by 27% at Rs 7,448 crore in FY23 vs Rs 5,844 crore in FY22, increase is driven by higher business growth
    • Earnings before credit cost increased by 17% at Rs 5,190 crore in FY23 vs Rs 4,430 crore in FY22
    • Impairment losses & bad debts expenses decreased by 4% at Rs 2,159 crore in FY23 vs Rs 2,258 crore in FY22
    • Profit after tax increased by 40% at Rs 2,258 crore in FY23 vs Rs 1,616 crore in FY22

 

 

Result PDF

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