SBI Cards Q4FY26 Earnings Call: PAT Grows 14% to ₹609 Crores, Asset Quality Improves

SBI Cards and Payment Services Limited conducted its Q4FY26 earnings conference call on April 27, 2026, where management discussed strong financial performance and strategic initiatives. The company reported robust quarterly results with improved profitability and enhanced asset quality metrics.

Financial Performance Highlights

The company delivered strong financial results for Q4FY26, demonstrating consistent growth across key metrics. Total revenue for the quarter reached ₹5,187 crores, representing 7% year-on-year growth, while annual revenue for FY26 stood at ₹20,708 crores with 11% growth.

Financial Metric:	Q4FY26	Growth (YoY)
Total Revenue:	₹5,187 crores	+7%
Profit After Tax:	₹609 crores	+14%
Annual Revenue FY26:	₹20,708 crores	+11%
Annual PAT FY26:	₹2,167 crores	+13%

Asset Quality and Risk Management

SBI Cards demonstrated significant improvement in asset quality metrics during Q4FY26. The company's gross Stage 3 ratio declined to 2.41%, while net Stage 3 ratio improved to 1.04%. Management highlighted enhanced risk management frameworks and collection efficiency as key drivers.

Asset Quality Metric:	Q4FY26	Quarterly Change
Gross Stage 3 Ratio:	2.41%	-46 bps QoQ
Net Stage 3 Ratio:	1.04%	-24 bps QoQ
Gross Credit Cost:	7.7%	-55 bps QoQ
NPA Stock Reduction:	₹268 crores	QoQ decline

Business Operations and Market Position

The company maintained its position as India's second-largest credit card issuer with 18.6% market share in cards-in-force. During Q4FY26, SBI Cards added 917,000 new accounts while focusing on quality-led acquisition. Total spends exceeded ₹1.15 trillion for the quarter with 31% year-on-year growth.

Operational Metric:	Q4FY26	Performance
New Account Additions:	917,000	Target range achieved
Total Spends:	₹1.15 trillion	+31% YoY
Annual Spends FY26:	₹4.3 trillion	Record high
Market Share (Cards):	18.6%	Second largest issuer

Strategic Outlook and Management Commentary

Managing Director Salila Pande emphasized the company's focus on supporting India's digital payment landscape while maintaining disciplined growth. The management highlighted initiatives in hyper-personalization, digital acquisition through SBI Card Sprint, and enhanced product portfolio including co-branded cards with Tata Neu, Flipkart, IndiGo, and PhonePe.

The company declared an interim dividend of ₹2.50 per equity share, reflecting confidence in business fundamentals. Management expects credit costs to moderate further in FY27, though remains vigilant about geopolitical uncertainties and macroeconomic factors affecting the unsecured lending ecosystem.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.12%	-6.16%	-4.46%	-29.32%	-26.70%	-34.96%

SBI Cards and Payment Services Limited has completed the allotment of 5,138 equity shares to eligible employees following the exercise of options under its Employee Stock Option Plans. The Nomination and Remuneration Committee of the Board approved the allotment through its resolution dated April 28, 2026.

ESOP Plan Details

The allotment was divided between two ESOP plans. Under the SBI Card - Employee Stock Option Plan 2019 (ESOP Plan 2019), the company allotted 2,000 equity shares with a face value of Rs. 10 each at an exercise price of Rs. 152.10 per share. Additionally, under the SBI Card - Employee Stock Option Plan 2023 (ESOP Plan 2023), 3,138 equity shares with a face value of Rs. 10 each were allotted at an exercise price of Rs. 10 per share.

ESOP Plan	Shares Allotted	Face Value	Exercise Price
ESOP Plan 2019	2,000	Rs. 10	Rs. 152.10
ESOP Plan 2023	3,138	Rs. 10	Rs. 10

Capital Structure Update

Following the allotment, the company's paid-up capital has increased. The paid-up capital now stands at Rs. 9,51,60,53,890, comprising 95,16,05,389 equity shares of face value Rs. 10 each. This represents an increase from the previous paid-up capital of Rs. 9,51,60,02,510, which consisted of 95,16,00,251 equity shares of face value Rs. 10 each.

The intimation regarding this allotment has been uploaded on the company's official website at www.sbicard.com . The event was recorded on April 28, 2026, at around 11:59 PM, as confirmed by Payal Mittal Chhabra, Chief Compliance Officer and Company Secretary of SBI Cards and Payment Services Limited.