SBI Cards and Payment Services Limited has successfully allotted 9,225 equity shares to eligible employees under its Employee Stock Option Plans, marking another milestone in its employee incentive programs. The allotment was approved by the company's Nomination and Remuneration Committee on February 26, 2026.

ESOP Allotment Details

The share allotment was executed under two distinct ESOP schemes with different exercise prices and allocations:

The significant difference in exercise prices between the two schemes reflects the varying grant dates and market conditions when the options were originally issued to employees.

Impact on Share Capital

The allotment has resulted in an increase in the company's paid-up capital structure:

The allotment represents a marginal increase in the total share count, adding 9,225 shares to the existing equity base.

Regulatory Compliance and Documentation

SBI Cards has formally informed both major stock exchanges about this development through official regulatory filing. The company submitted the intimation to BSE Limited and The National Stock Exchange of India Limited on February 26, 2026. The information has also been uploaded on the company's official website at www.sbicard.com for public access.

The event was officially recorded at February 26, 2026 at around 05:49 PM, with the regulatory filing being digitally authenticated by Chief Compliance Officer and Company Secretary Payal Mittal Chhabra at 18:32:21 +05'30'.

Corporate Governance Framework

The allotment was executed under the formal approval of the Nomination and Remuneration Committee, demonstrating adherence to corporate governance practices. The company operates from its registered office at Unit 401 & 402, 4th Floor, Aggarwal Millennium Tower, E 1,2,3, Netaji Subhash Place, Wazirpur, New Delhi - 110034.

This ESOP allotment reflects the company's commitment to employee participation in its growth story through equity-based compensation programs, providing eligible participants with ownership stakes in the organization.

SBI Cards and Payment Services Limited delivered exceptional Q3 FY26 results, demonstrating the effectiveness of its disciplined portfolio management and customer-centric approach. The company reported robust financial performance across key metrics while maintaining focus on sustainable growth and asset quality improvements.

Financial Performance Highlights

The quarter witnessed strong profitability with several key achievements:

The significant profit growth was primarily driven by improved gross credit costs and lower cost of funds. Revenue growth reflected higher spend-based income, with the company achieving record quarterly spend levels across both retail and corporate segments.

Asset Quality and Risk Management

SBI Cards demonstrated continued improvement in asset quality metrics, reflecting the impact of enhanced underwriting and portfolio management initiatives:

The company experienced a write-back of ₹121 crores under the ECL model due to reduced Stage 2 and Stage 3 stocks. However, management retained this provision as an overlay, demonstrating conservative approach toward future uncertainties.

Business Growth and Market Position

SBI Cards maintained its strong market position while focusing on quality customer acquisition:

The company added 864,000 new accounts during the quarter while maintaining focus on quality acquisitions. Management indicated plans to acquire 900,000 to 1 million new accounts quarterly going forward, emphasizing premium customer segments.

Operational Metrics and Strategic Initiatives

Key operational developments included successful launch of customer-centric initiatives and strategic partnerships. The company rolled out "Khushiyan Unlimited," a multilingual festive campaign featuring over 1,250 offers across 2,950+ cities. Strategic partnerships with Amazon, Flipkart, and Apple enhanced customer engagement, particularly around new product launches like the iPhone 17.

Receivables reached ₹57,213 crores with 4% YoY growth, while high interest earning assets stood at 56% with revolver rate at 23%. The net interest margin was 11% for the quarter, with cost of funds declining 5 basis points on daily weighted average basis.

Future Outlook and Strategic Direction

Management expressed confidence in sustainable growth prospects, emphasizing calibrated expansion while maintaining asset quality standards. The company plans to focus on EMI portfolio growth to expand interest-bearing assets and drive predictable revenue streams. With strong liquidity position and robust capital adequacy, SBI Cards is well-positioned to capitalize on India's expanding digital payments ecosystem and credit card market opportunities.