SBI Cards shareholders approved the company’s financial results for FY26 and confirmed an interim dividend of ₹2.50 per share during its 28th annual general meeting held on August 31, 2026.

The meeting, conducted via video conferencing, also saw the adoption of audited financial statements for the year ended March 31, 2026, along with reports from the Board of Directors and statutory auditors. Members authorized the board to fix remuneration for statutory auditors appointed by the Comptroller and Auditor General of India (CAG) for FY27.

Financial Performance

The company reported a 13% year-on-year increase in net profit to ₹2,167 crore from ₹1,916 crore in FY25. Total income grew 11% to ₹20,708 crore, up from ₹18,637 crore. Earnings before credit costs (EBCC) rose 6% to ₹7,876 crore.

Business volumes expanded significantly, with total spends jumping 29% to ₹430,359 crore from ₹333,480 crore. New accounts added during the period stood at 4,092K, compared to 3,590K in the prior year. Receivables increased marginally by 2% to ₹56,926 crore.

Asset Quality and Returns

Asset quality improved notably, with gross non-performing assets (GNPA) declining by 67 bps to 2.41% from 3.08%. Gross credit loss (GCL) percentage dropped by 34 bps to 8.6%, while expected credit loss (ECL) percentage fell by 39 bps to 3.0%.

Return on average assets (ROAA) improved by 11 bps to 3.2%. Return on average equity (ROAE) remained stable at 14.6%. Basic earnings per share (EPS) grew 13% to ₹22.77 from ₹20.15.

Corporate Governance and ESG

Shareholders approved material related-party transactions with State Bank of India. The company highlighted progress on environmental goals, achieving a 58% reduction in Scope 2 emissions against a target of 50% by FY27. Welcome kit digitization reached 90%, surpassing the 85% target.

ESG ratings showed improvement across multiple agencies. The Sustainalytics risk score improved by 2.1 points to 14.4. DJSI rating jumped by 11 points to 45, placing the company in the top 14% of the diversified financial sector.

SBI Cards is set to witness an outflow of $148M (₹14.12B) today at 3pm as part of the MSCI August rebalancing.

MSCI August rebalancing impact

The rebalancing event, scheduled to take effect at 3pm today, is expected to trigger passive fund outflows linked to changes in index weightings under the MSCI August rebalancing cycle.

MSCI index rebalancing events typically prompt passive and index-tracking funds to adjust their holdings in line with revised index compositions, resulting in buying or selling activity in the affected stocks.