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Latest news about SBI Cards

SBI Cards and Flipkart Launch Co-Branded Credit Card with Attractive Cashback Benefits 4 days ago

SBI Cards and Payment Services has partnered with Flipkart to introduce the Flipkart SBI Credit Card. The card offers tiered cashback rewards: 5% on Flipkart and Cleartrip, up to 7.5% on Myntra, 4% on platforms like Zomato and Uber, and 1% on other eligible transactions. Additional benefits include a Rs 250 Flipkart gift card welcome reward, annual fee waiver on spends above Rs 3.5 lakh, fuel surcharge waiver, contactless payment, global ATM access, and flexible repayment options. The collaboration aims to enhance customer loyalty and increase transaction volumes across partnered platforms.

SBI Card and Flipkart Launch Co-Branded Credit Card, Offering Attractive Cashback Benefits Aug 26, 2025

SBI Card Slashes Card Protection Plan Prices, Enhances Benefits Aug 26, 2025

SBI Card Announces Changes to Reward Points and Card Protection Benefits Aug 21, 2025

SBI Cards Unveils Bank of Maharashtra Co-Branded Credit Card for Domestic Market Aug 18, 2025

More news about SBI Cards

14Aug 25

SBI Cards Appoints Payal Mittal Chhabra as Company Secretary; Rajnikant Patel Joins as Independent Director

SBI Cards and Payment Services Ltd has appointed Payal Mittal Chhabra as Company Secretary and Chief Compliance Officer. Rajnikant Patel joins as Additional Independent Director for a three-year term, replacing Rajendra Kumar Saraf. Patel brings over 30 years of experience in banking, finance, and capital markets, having previously served as MD & CEO of BSE and ICEX.

30Jul 25

SBI Cards Raises ₹2,000 Crore Through Non-Convertible Debentures

SBI Cards and Payment Services Limited has raised ₹2,000 crore by issuing 2,00,000 non-convertible debentures (NCDs) with a face value of ₹1,00,000 each. The NCDs have a coupon rate of 7.05% per annum, a 3-year tenure, and will mature on July 28, 2028. The company also announced its 27th Annual General Meeting to be held virtually on August 29, 2025.

28Jul 25

SBI Cards Shares Drop 6% as Quarterly Profit Falls 6.5%

SBI Cards and Payment Services reported a 6.5% decrease in net profit for the June quarter, causing its shares to fall over 6%. Net profit declined to Rs 556.00 crore from Rs 594.00 crore year-on-year. Provision expenses increased by 23% to Rs 1,351.00 crore. Despite the profit drop, customer spends grew 21% to Rs 93,244.00 crore, and receivables rose 7% to Rs 56,607.00 crore. The stock traded down 5.7% at Rs 830.00 with higher-than-average trading volume.

25Jul 25

SBI Card Reports 12% Revenue Growth and 4% Profit Increase in Q1

SBI Cards and Payment Services Limited (SBI Card) released its Q1 financial results, showing steady growth. Total revenue increased 12% YoY to ₹5,035.00 crore, while net profit rose 4% QoQ to ₹555.96 crore. Cards-in-force grew 10% YoY to 2.12 crore, and spends increased 21% YoY to ₹93,244.00 crore. The company maintained stable asset quality with a GNPA ratio of 3.07% and an NNPA ratio of 1.42%. SBI Card's strategic focus includes expanding in tier-2 cities, digital innovation, and co-branded offerings.

25Jul 25

SBI Cards Reports Mixed Q1 Results: Revenue Up, Profit Down

SBI Cards and Payment Services Limited announced Q1 financial results with total revenue increasing 12% year-on-year to ₹5,035.00 crore, driven by growth in interest income and fees. However, net profit decreased 6% to ₹556.00 crore. Cards-in-force grew 10% to 2.12 crore, and spends increased 21% to ₹93,244.00 crore. Asset quality remained stable with GNPA at 3.07% and NNPA at 1.42%. The company's market share for cards-in-force rose to 19.1%, while spends market share improved to 16.6%.

24Jul 25

SBI Card Discontinues Air Accident Insurance on Co-branded Cards, Revises Billing Process

SBI Cards is discontinuing complimentary air accident insurance on several co-branded credit cards from August 11. The affected cards include those offering ₹1 Crore and ₹50 Lakh coverage. Additionally, SBI Card has revised its billing processes effective July 15, changing the Minimum Amount Due calculation and the order of payment adjustments. The new MAD now includes full GST, EMIs, fees, charges, finance charges, over-limit amounts, and 2% of remaining unpaid balance. The payment adjustment order now prioritizes GST, followed by EMIs, fees, charges, finance charges, balance transfers, retail transactions, and cash advances.

24Jul 25

SBI Card Discontinues Air Accident Insurance on Co-branded Cards, Updates Billing Process

SBI Cards is discontinuing complimentary air accident insurance on several co-branded credit cards from August 11. The affected cards include those offering ₹1 Crore and ₹50 Lakh coverage. Additionally, SBI Card has revised its billing process effective July 15, introducing a new Minimum Amount Due calculation and modifying the payment adjustment order. The new calculation includes full GST, EMIs, fees, charges, finance charges, over-limit amounts, and 2% of remaining unpaid balance. The payment adjustment now prioritizes GST, followed by EMIs, fees, charges, finance charges, balance transfers, retail transactions, and cash advances.

22Jul 25

SBI Card and PhonePe Launch Co-Branded Credit Cards with Up to 10% Rewards

SBI Cards has partnered with PhonePe to introduce two new co-branded credit cards: PhonePe SBI Card SELECT BLACK and PhonePe SBI Card PURPLE. The premium SELECT BLACK offers up to 10% value back on PhonePe app transactions and 5% on other online shopping, while the PURPLE card provides up to 3% value back on PhonePe app spends and 2% on other online transactions. Both cards offer welcome vouchers, travel vouchers for annual spend milestones, and rewards on everyday transactions. Available on RuPay and VISA networks, the cards can be linked to UPI or tokenized for secure online payments. The partnership aims to promote credit card usage by combining SBI Card's expertise with PhonePe's digital network.

22Jul 25

SBI Card and PhonePe Launch Co-Branded Credit Card, Offering Up to 10% Value Back on Transactions

SBI Cards and Payment Services Limited (SBI Card) has partnered with PhonePe to introduce a new co-branded credit card. The PhonePe SBI Card comes in two variants: SELECT BLACK and PURPLE, available on RuPay and VISA networks. The cards offer rewards on various transactions, including up to 10% value back on PhonePe and Pincode spends for the SELECT BLACK variant. The application process is integrated into the PhonePe app, providing a seamless digital experience. This partnership aims to expand credit card usage by combining SBI Card's expertise with PhonePe's digital network. Additionally, SBI Card has scheduled a Board meeting on July 25 to approve Q1 financial results.

01Jul 25

SBI Cards Faces ₹81.93 Crore Tax Credit Dispute with GST Authorities

SBI Cards and Payment Services Limited has received a show cause notice from CGST Gurugram proposing to disallow input tax credit of ₹81.93 crore for fiscal years 2018-19 to 2020-21. The company has 30 days to respond to the notice. Despite the potential financial impact, SBI Cards expresses confidence in a favorable outcome. The situation highlights the importance of GST compliance and may affect investor sentiment.

15May 25

SBI Cards Forges Strategic Partnership with Apollo HealthCo

SBI Cards and Payment Services has announced a partnership with Apollo HealthCo, aiming to innovate in healthcare payments and services. While specific details are yet to be disclosed, the collaboration is expected to lead to enhanced healthcare payment solutions, potentially including co-branded credit cards with healthcare benefits, improved accessibility to medical services, and contributions to India's digital health ecosystem. This strategic move reflects SBI Cards' efforts to diversify its offerings and Apollo HealthCo's opportunity to enhance its payment infrastructure.

25Apr 25

SBI Cards Q4 Profit Surges 39% QoQ, Credit Costs Improve Amid Strong Revenue Growth

SBI Cards and Payment Services Limited reported a net profit of ₹534.00 crore in Q4 FY25, up 39% QoQ but down 19% YoY. Total revenue grew 8% YoY to ₹4,674.00 crore, with interest income up 13% YoY. The company saw improvements in credit cost, asset quality, and operational metrics. New accounts increased by 8% YoY, while total spends rose 11% to ₹88,365.00 crore. Profitability ratios improved, with NIM at 11.20% and ROAA at 3.40%. The company maintains a strong capital position with a CAR of 22.90%.

24Apr 25

SBI Cards Q4 FY25: Profit Declines 19% YoY Amid Rising Defaults, Revenue Up 8%

SBI Cards and Payment Services Limited reported a 19% year-on-year decrease in net profit to ₹534.00 crore in Q4 FY25, primarily due to higher impairment losses. Total income grew to ₹4,832.00 crore, with revenue from operations up 8% YoY. Gross Non-Performing Assets increased to 3.08%. Despite challenges, the company saw growth in cards-in-force, spends, and receivables. For the full fiscal year 2024-25, profit after tax decreased by 20% to ₹1,916.00 crore. The company maintained a strong capital position with a Capital Adequacy Ratio of 22.90%.

18Apr 25

SBI Cards to Announce Q4 Results on April 24, Appoints New Nominee Director

SBI Cards and Payment Services will release Q4 FY2025 results on April 24, 2025, followed by an earnings call. The company has appointed Mr. Shamsher Singh as a Nominee Director, effective April 17, 2025. Mr. Singh, nominated by State Bank of India, brings extensive banking experience to the role. The trading window for designated persons will remain closed until 48 hours after the results declaration.

16Apr 25

SBI Card and Tata Digital Launch Innovative Co-Branded Credit Cards

SBI Cards and Payment Services Limited has partnered with Tata Digital to introduce two new co-branded credit cards: Tata Neu SBI Card and Tata Neu Infinity SBI Card. These cards offer up to 10% rewards in NeuCoins on Tata Neu and partner brand purchases, and up to 1.5% on other spends. Additional benefits include UPI transaction rewards, bill payment cashback, lounge access, and competitive forex rates. The cards are available on RuPay and Visa platforms with annual fees of ₹499 and ₹1,499 respectively.

01Apr 25

SBI Cards Welcomes New Leadership: Salila Pande Takes the Helm as MD & CEO

SBI Cards and Payment Services Limited has announced Salila Pande as its new Managing Director and Chief Executive Officer, effective April 1, 2025. Pande, with nearly three decades of experience at State Bank of India, brings expertise in international and retail banking, risk management, and trade finance. Her appointment comes as SBI Card aims to capitalize on India's growing digital payments landscape, with the company currently boasting over 20 million cards in force.

10Mar 25

SBI Cards Witnesses Major Block Trade: 1.03 Million Shares Change Hands

A significant block trade of approximately 1,033,521 shares of SBI Cards and Payment Services Ltd. occurred on the National Stock Exchange at Rs. 846.25 per share, totaling Rs. 87.46 crores. This large transaction indicates substantial investor interest in the company, a leading credit card issuer in India. The identities of the buyers and sellers were not immediately disclosed.

25Feb 25

SBI Cards Declares Interim Dividend Amidst Q3 Profit Decline and Rising NPAs

SBI Cards and Payment Services Ltd will trade ex-dividend on February 25, 2025, offering an interim dividend of ₹2.50 per share. This comes as the company reports a 30% year-on-year decline in Q3FY25 net profit to ₹383.2 crore. While revenue slightly increased by 0.53% to ₹4,766.6 crore, the company faced profitability pressures with EBITDA falling 5.99% and EPS dropping 30.28% to ₹4.03. Gross NPAs rose to 3.24%, indicating potential loan quality issues.

24Feb 25

SBI Cards Announces Rs 2.5 Per Share Interim Dividend, Last Buy Date Feb. 24

SBI Cards and Payment Services Ltd has declared an interim dividend of Rs 2.5 per share, with a total payout of Rs 238 crore. The record date is set for February 25, 2023, and the last date to buy shares to be eligible for the dividend is February 24, 2023. The dividend is expected to be credited or dispatched by March 18, 2023. This payout aligns with the company's consistent dividend distribution pattern over the past three years.