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Latest news about SBI Cards

SBI Cards and Payment Services Records ₹17.15 Crore Block Trade on NSE at ₹635.00 Per Share 4 days ago

SBI Cards and Payment Services Ltd. recorded a block trade on the NSE involving approximately 2,70,144 shares at a price of ₹635.00 per share. The total value of the transaction stood at ₹17.15 crores. Block trades of this scale are typically associated with institutional participation and reflect significant single-transaction activity in the counter.

SBI Cards Q4 FY26: PAT Rises 14% YoY, NIM at 11.2%, ROA Target 4-4.5% May 04, 2026

SBI Cards Q4FY26 Earnings Call: PAT Grows 14% to ₹609 Crores, Asset Quality Improves May 03, 2026

SBI Cards and Payment Services Limited Allots 5,138 Equity Shares Under ESOP Plans Apr 29, 2026

SBI Cards Expects Credit Costs to Moderate Further in FY27 Apr 28, 2026

More news about SBI Cards

28Apr 26

SBI Cards Expects Revolver Balance Decline in FY27, Plans Installment Lending Expansion

SBI Cards expects slight decline in revolver balances during FY27 and plans to compensate through installment lending portfolio expansion. The company will maintain existing reward programs and fee structures while focusing on lending diversification as primary growth strategy.

28Apr 26

SBI Cards Management Targets 900K-1M Quarterly User Acquisitions

SBI Cards management has set quarterly user acquisition targets of 900,000 to 1 million new cardholders, with similar expectations for the next quarter. The strategy emphasizes attracting high-value, good-quality customers, reflecting the company's commitment to sustainable growth and premium portfolio building in the competitive credit card market.

28Apr 26

JPMorgan Maintains Underweight Rating on SBI Cards with ₹625 Target Price Despite Q4 Asset Quality Gains

JPMorgan maintains an underweight rating on SBI Cards and Payment Services with a ₹625 target price, acknowledging improved Q4 asset quality metrics including lower slippages, reduced write-offs, and better Gross Stage-3 performance. However, the brokerage remains cautious about earnings prospects due to potential NIM compression from poorer loan mix, subdued receivable growth expectations post FY26, and elevated operational expenses from card acquisition activities. Current valuations are viewed as offering limited support despite the positive asset quality trends.

28Apr 26

UBS Maintains Neutral Rating on SBI Cards with ₹780 Target Price Following Mixed Q4 Performance

UBS has maintained a neutral rating on SBI Cards and Payment Services with a ₹780 target price following mixed Q4 results. While the company achieved strong spend growth of 31% year-on-year and showed improvements in asset quality with lower credit costs, weak receivables growth and declining revolver mix led to an overall performance miss. The brokerage considers current valuations of approximately 3.5x price-to-book and 21.5x price-to-earnings as fair, with expectations that FY27 loan growth will lag behind spend growth and limited near-term catalysts for outperformance.

28Apr 26

Jefferies Maintains Hold on SBI Cards with ₹700 Target Price as Q4 Performance Misses Estimates

Jefferies maintains Hold rating on SBI Cards with ₹700 target price following Q4 adjusted PAT decline of 2% YoY that missed estimates. Weak NII/fee growth, lower receivables growth, and falling revolver mix drove underperformance. While improving slippages and expected easing credit costs provide some positives, portfolio de-risking measures are capping growth and leading to 4-6% EPS estimate cuts.

28Apr 26

HSBC Reduces SBI Cards Rating with Target Price Cut to ₹500 Amid Growth Concerns

HSBC has downgraded SBI Cards and Payment Services to 'Reduce' with a target price of ₹500 following slower growth in 4QFY26 and broad-based pressure on core operating metrics. The brokerage has cut EPS estimates by approximately 1% for FY27E and 9.4% for FY28E, while also lowering growth and revenue assumptions. The revised valuation stands at approximately 2.3x FY28E BVPS, reflecting concerns about the credit card company's operational performance and future growth trajectory.

23Apr 26

SBI Cards Announces Q4FY26 Earnings Conference Call for April 27, 2026

SBI Cards and Payment Services Limited has announced its Q4FY26 earnings conference call scheduled for April 27, 2026 at 3:30 PM IST. The company has provided formal intimation to stock exchanges under SEBI regulations, with comprehensive dial-in arrangements including universal access numbers and international toll-free options for Hong Kong, Singapore, UK, and USA. Participants can pre-register using the Diamond Pass system, with the company recommending early dial-in to avoid delays.

08Apr 26

SBI Cards Submits Quarterly Compliance Certificate for Q4FY26 to Stock Exchanges

SBI Cards filed its Q4FY26 compliance certificate with BSE and NSE on April 8, 2026, under SEBI Regulation 74(5). The registrar MUFG Intime India confirmed no dematerialization requests were received during the quarter ended March 31, 2026, making the regulation non-applicable for this period.

07Apr 26

SBI Reportedly Held $5 Billion Short Rupee Positions, Among Banks Most Affected by New RBI Policy

State Bank of India reportedly maintained approximately $5 billion in short rupee positions, according to Bloomberg, positioning it among the banks most significantly affected by recent RBI policy changes. The substantial foreign exchange exposure highlights the impact of regulatory shifts on major banking institutions' currency strategies.

07Apr 26

SBI Cards Receives ESG Score of 71 from SEBI Registered Rating Provider

SBI Cards and Payment Services Limited received an ESG score of 71 from ESG Risk Assessments & Insights Limited, a SEBI registered ESG rating provider. The company filed this information under Regulation 30 of SEBI regulations on April 7, 2026, following the rating event on April 6, 2026. The ESG rating details have been made available on the company's website for stakeholder access.

02Apr 26

SBI Cards Appoints Amit Batra as Executive Vice President & Chief Strategy Officer

SBI Cards and Payment Services Limited has appointed Mr. Amit Batra as Executive Vice President & Chief Strategy Officer, effective July 01, 2026. The Board approved the appointment on April 01, 2026, based on the Nomination and Remuneration Committee's recommendation. Mr. Batra brings thirty years of leadership experience across strategy, operations, and business transformation, having previously served as COO at TransUnion CIBIL India and worked with organizations including GE Capital and Star TV. He is an INSEAD alumnus with a Master Black Belt in Lean Six Sigma and graduate of Institute of Hotel Management, Kolkata.

01Apr 26

HSBC Maintains Reduce Rating on SBI Cards, Cuts Target Price to Rs 560 from Rs 660

HSBC has maintained its 'Reduce' rating on SBI Cards and Payment Services while cutting the target price to Rs 560 from Rs 660. The revision reflects concerns over weaker demand outlook due to Middle East conflict, expected cuts to AUM growth, margins and EPS, along with liability pressures and asset quality risks. The brokerage prefers private banks and select NBFCs like Cholamandalam Investment and Finance and Shriram Finance, with LIC Housing Finance seen as a defensive option.

22Mar 26

SBI Cards Allots 5,530 Equity Shares to Employees Under ESOP Schemes

SBI Cards and Payment Services Limited allotted 5,530 equity shares to employees under two ESOP schemes on March 22, 2026. The allotment included 3,350 shares under ESOP Scheme 2019 at ₹152.10 per share and 2,180 shares under ESOP Scheme 2023 at ₹10 per share. Post-allotment, the company's paid-up capital increased to ₹9,51,60,02,510 with total equity shares reaching 95,16,00,251.

18Mar 26

SBI Cards Participates in Morgan Stanley Group Call with 42 Institutional Investors

SBI Cards and Payment Services Limited participated in a Morgan Stanley-organized group call on March 18, 2026, at Gurugram from 1:30 PM to 2:19 PM. The session attracted 42 institutional investors and asset management companies, including Goldman Sachs, Franklin Templeton, Axis Asset Management, and Canada Pension Plan Investment Board. The company disclosed this participation under SEBI Regulation 30, with Chief Compliance Officer Payal Mittal Chhabra filing the mandatory disclosure with BSE and NSE.

10Mar 26

SBI Cards Conducts Investor Meet with Major Institutional Players in Singapore

SBI Cards and Payment Services Limited held investor and analyst meetings in Singapore on March 10, 2026, organized by JP Morgan. The company engaged with five major institutional investors including GIC Private Limited, M&G Investment Management, Temasek Holdings, Citadel Asset Management, and Eastspring Investments during one-on-one sessions from 06:30 AM to 02:00 PM IST. The meetings were disclosed in compliance with SEBI regulations, with publicly available information shared with participants.

10Mar 26

SBI Cards Publishes Interim Dividend Notice Following Board Declaration

SBI Cards and Payment Services Limited published regulatory-compliant newspaper advertisements in Business Standard regarding its interim dividend declaration of Rs 2.50 per equity share for FY 2025-26. The company filed compliance documents with BSE and NSE on March 10, 2026, confirming the publication and reiterating the March 11, 2026 record date. The dividend represents 25% of face value and will be paid electronically only to shareholders with updated bank details as per SEBI regulations.

27Feb 26

SBI Cards Board Meeting on March 5, 2026 to Consider Interim Dividend Declaration

SBI Cards and Payment Services Limited announced a board meeting on March 5, 2026, to consider declaring interim dividend for financial year 2025-26, with record date fixed as March 11, 2026. The company has closed its trading window from February 27 to March 7, 2026, in compliance with SEBI regulations.

26Feb 26

SBI Cards Allots 9,225 Equity Shares to Employees Under ESOP Schemes

SBI Cards and Payment Services Limited has allotted 9,225 equity shares to employees under two ESOP schemes, with the Nomination and Remuneration Committee approving the allocation on February 26, 2026. The allotment increased the company's paid-up capital from Rs. 9,51,58,54,960 to Rs. 9,51,59,47,210, demonstrating the company's commitment to employee participation through equity-based compensation programs.

04Feb 26

SBI Cards Reports 45% Profit Growth in Q3 FY26 with Record Spend Performance

SBI Cards delivered outstanding Q3 FY26 results with 45% YoY profit growth to ₹557 crores, supported by record spends of ₹1,14,702 crores and 11% revenue growth to ₹5,127 crores. Asset quality improvements were notable with gross credit costs declining to 8.3% from 9% and NPA stock reducing by ₹67 crores. The company maintained strong market position with 18.8% cards market share and 17.7% spend market share, while adding 864,000 new accounts with focus on quality acquisitions.

28Jan 26

SBI Cards Reports 45.2% Jump in Q3 FY26 Net Profit to ₹556.64 Crores

SBI Cards and Payment Services Limited reported strong Q3 FY26 results with net profit surging 45.2% YoY to ₹556.64 crores. Total income grew to ₹5,353.42 crores driven by higher interest income and fees & commission income. The company maintained healthy asset quality with gross NPA at 2.86% and net NPA at 1.28%. For nine months, net profit reached ₹1,557.40 crores, up 12.7% YoY, while EPS improved to ₹5.85 for the quarter.

27Jan 26

SBI Cards Allots 8,096 Equity Shares Under Employee Stock Option Plan 2023

SBI Cards and Payment Services Limited allotted 8,096 equity shares under its ESOP Scheme 2023 on January 27, 2026, at an exercise price of Rs. 10 per share. The allotment increased the company's paid-up capital from Rs. 9,51,57,74,000 to Rs. 9,51,58,54,960, with total equity shares rising to 95,15,85,496. The company has informed stock exchanges and updated its website in compliance with regulatory requirements.

14Jan 26

CLSA Upgrades SBI Cards to Hold Rating Despite Operating Profitability Concerns

CLSA upgraded SBI Cards from Underperform to Hold with ₹820 target price, balancing improving asset quality against operating profitability pressures. The firm reduced FY26-28 loan growth assumptions from 14% to 11% due to industry slowdown and expects margin compression from Q4 FY26. Fee income faces pressure from lower rental spending and reduced late payment charges, leading to 2-11% PPOP estimate cuts and 10-14% PAT reductions.

12Jan 26

Macquarie Downgrades SBI Cards to Underperform, Cuts Target Price to ₹750

Macquarie has downgraded SBI Cards and Payment Services Ltd from Neutral to Underperform rating while cutting the target price to ₹750.00. This revision reflects the brokerage's more cautious outlook on the credit card company's investment prospects and suggests potential underperformance relative to market peers.

08Jan 26

SBI Cards Achieves ESG Rating of 78 for FY2025, Maintains Leader Category Status

SBI Cards and Payment Services Limited achieved an ESG rating of 78 for FY2025 from NSE Sustainability Ratings, improving from 77 in FY2024 and maintaining 'Leader' category status in the top 10% percentile. The assessment across Environment (81), Social (75), and Governance (80) pillars highlighted strong performance in environmental stewardship with below-average emissions and 10% energy intensity reduction, robust governance framework exceeding regulatory requirements, and balanced workforce management despite some challenges in employee turnover and customer complaints.

07Jan 26

SBI Cards Initiates Postal Ballot for Appointment of Two Independent Directors

SBI Cards and Payment Services Limited has initiated a postal ballot process seeking shareholder approval for appointing two Independent Directors - Smt. Anuradha Rao and Smt. Parvathy Vairava Sundaram. Both were initially appointed as Additional Independent Directors in late 2025 and now require formal approval through special resolutions. The e-voting period runs from January 8 to February 6, 2026, with results to be declared within two working days of voting conclusion.

22Dec 25

SBI Cards Allots 29,896 Equity Shares to Employees Under ESOP Schemes

SBI Cards and Payment Services Limited allotted 29,896 equity shares to employees under two ESOP schemes on December 22, 2025. The allotment included 13,000 shares under ESOP Scheme 2019 at ₹152.10 per share and 16,896 shares under ESOP Scheme 2023 at ₹10.00 per share. This increased the company's paid-up capital from ₹951.55 crores to ₹951.58 crores, with total equity shares reaching 95,15,77,400.

10Dec 25

Bernstein Maintains 'Underperform' Rating on SBI Cards with ₹780 Price Target

Bernstein has maintained its 'Underperform' rating on SBI Cards and Payment Services with a price target of ₹780.00. The rating reflects the brokerage's cautious view on the credit card company's performance prospects in the competitive payment services sector.

09Dec 25

SBI Cards Appoints Smt. Parvathy Vairava Sundaram as Independent Director

SBI Cards and Payment Services Limited has appointed Smt. Parvathy Vairava Sundaram as an Independent Director for a three-year term, effective from April 21, 2023. The decision was made at the company's Board of Directors meeting held on the same day. This appointment is part of SBI Cards' efforts to enhance corporate governance and bring diverse perspectives to its leadership.

17Nov 25

CRISIL Enhances SBI Cards' Bank Loan Rating to Rs 62,000 Crore, Reaffirms AAA Rating

CRISIL Ratings has increased SBI Cards and Payment Services Limited's total bank loan facilities rating to Rs 62,000 crore from Rs 57,000 crore, while reaffirming its 'CRISIL AAA/Stable/CRISIL A1+' ratings on debt instruments and bank facilities. The ratings reflect strong parent support from SBI, steady market position as India's second-largest credit card player with 19% market share, and above-average profitability despite recent moderation. The company's gross non-performing assets stood at 2.85%. CRISIL maintains a 'Stable' outlook, expecting continued benefits from SBI's support and improved market position.

14Nov 25

SBI Cards Announces Board Changes: New Appointment and Resignations

SBI Cards and Payment Services Limited has announced significant changes to its Board of Directors. Anuradha Rao has been appointed as an Additional Independent Director for a three-year term starting November 13, 2025, subject to shareholder approval. Shamsher Singh, a Non-executive Nominee Director from SBI, has resigned effective the same date, citing time constraints due to his role at SBI. Additionally, Dinesh Kumar Mehrotra and Anuradha Shripad Nadkarni have completed their second terms as Independent Directors and will cease to be directors from November 13, 2025.

13Nov 25

SBI Cards Sees Major Block Trade Worth Rs 179.87 Crore on BSE

A significant block trade of SBI Cards shares occurred on the Bombay Stock Exchange (BSE). The transaction involved 2,062,438 shares at Rs 872.10 per share, totaling Rs 179.87 crore. This large-scale trade indicates continued interest in the credit card and payment services company. SBI Cards, a subsidiary of the State Bank of India, is a leading credit card issuer in India. The company has also been actively engaging with investors, as evidenced by recent communication with Elara Capital.

07Nov 25

SBI Cards Achieves ESG Rating Upgrade to AA from MSCI

SBI Cards and Payment Services Limited has been upgraded from 'A' to 'AA' in its ESG rating by MSCI ESG Ratings and Research Private Limited, a SEBI registered ESG rating provider. The company announced this improvement on November 7, demonstrating its commitment to sustainability and governance practices. The upgrade may positively influence investor perceptions, given the increasing importance of ESG factors in investment decisions. SBI Cards has made this information available on its website and has notified the BSE and NSE in compliance with SEBI regulations.

31Oct 25

SBI Cards Reports Record Q2 Spend Amid Festive Season, Profit Up 10%

SBI Cards and Payment Services posted robust Q2 FY26 results, with total revenue up 13% to ₹5,136.00 crores and profit after tax rising 10% to ₹445.00 crores. Total spend reached an all-time high of ₹1,07,063.00 crores, up 31% year-over-year. The company launched three new co-branded credit cards with Flipkart, PhonePe, and IndiGo. Cards-in-force grew 10% to 2.15 crores, maintaining a 19% market share. Asset quality improved with GNPA decreasing to 2.85%. Online spends contributed 62.5% of total retail spend in H1 FY26.

27Oct 25

SBI Cards Revises FY26 Guidance: Credit Costs Expected to Stay Below 9%

SBI Cards has revised its financial guidance for FY26. Credit costs are expected to remain under 9% in upcoming quarters. The cost-to-income ratio guidance has been increased due to higher corporate spending. New account additions target remains at 0.9-1.0 million. IBNEA guidance has been lowered to 10-12%. The company aims to maintain current Net Interest Margin levels.

27Oct 25

SBI Cards Q2 Net Profit Rises 10% to ₹4.4 Billion, Falls Short of Estimates

SBI Cards and Payment Services reported Q2 FY2024 results with a 10% increase in net profit to ₹4.40 billion and a 12.20% rise in revenue to ₹49.60 billion. However, EBITDA declined by 2.40% to ₹12.20 billion, and the EBITDA margin contracted by 366 basis points to 24.57%. The company's net profit fell short of market estimates of ₹5.93 billion.

24Oct 25

SBI Cards Reports Improved Asset Quality and 31% Increase in Receivables

SBI Cards and Payment Services reported a 10% increase in net profit to ₹445.00 crore, falling short of analyst estimates. Revenue grew 12.2% to ₹4,961.00 crore, driven by higher spend-based and interest income. EBITDA declined to ₹1,220.00 crore with margin dropping to 24.57%. Asset quality improved with GNPA at 2.85% and NNPA at 1.29%. Receivables grew 31%, and total card spends surged by 31% to ₹107,063.00 crore. The company added 9.36 lakh new accounts, maintaining strong market shares in cards-in-force (19%) and credit card spends (17%).

24Oct 25

SBI Cards Reports 10% PAT Growth in Q2, Spends Surge 31% YoY

SBI Cards and Payment Services Limited reported a 10% year-on-year increase in profit after tax, reaching ₹445 crore for Q2. Total revenue grew by 13% to ₹5,136 crore, while total spends surged 31% to ₹107,063 crore. The company's cards-in-force increased by 10% to 2.15 crore, and receivables rose 8% to ₹59,845 crore. New account additions were up 4% at 9.36 lakh. Retail spends grew 17% to ₹89,611 crore, and corporate spends saw a significant 218% increase to ₹17,452 crore. The company launched three new co-branded cards and maintained a strong capital adequacy ratio of 22.50%.

16Oct 25

SBI Cards Receives Major Relief as ₹81.45 Crore GST Demand Dropped

SBI Cards and Payment Services Limited has received significant relief in a GST case. The CGST Authority has dropped a ₹81.45 crore demand against the company. A smaller demand of ₹47.54 lakh has been confirmed due to documentation issues. SBI Cards plans to appeal against this smaller demand, considering it unsustainable. The dropped demand was related to a mismatch between GSTR-2A and GSTR-3B forms, resulting in over 99% of the proposed demand being decided in the company's favor.

08Oct 25

SBI Cards and RBL Bank Shares Surge on RBI's Proposed Credit Risk Framework Changes

Shares of SBI Cards & Payment Services and RBL Bank rose up to 5% following RBI's announcement of draft guidelines for a new credit risk capital framework. The proposed changes include reducing risk weight for 'transactor' category credit cards from 125% to 100%. SBI Cards, with 40% of its ₹56,607 crore receivables from transactors, could potentially release 450 basis points of capital. RBL Bank, with 18% of its loan book in credit cards and 30% of its ₹21,499 crore assets under management from transactors, also stands to benefit. RBL Bank shares closed 4.9% higher at ₹287, while SBI Cards gained 1.8% to close at ₹921.30.

02Oct 25

SBI Card Introduces New Transaction Fees, Continues Reward Program

SBI Cards is implementing new fees from November 1. A 1% fee will apply to education payments via third-party apps, while direct payments to institutions remain fee-free. Wallet load transactions over ₹1,000 will incur a 1% fee. The reward points program for Ajio and JioMart shopping continues, offering 20 points per ₹100 for Reliance SBI Card PRIME and 10 points for other SBI cards. Customer Protection Plan (CPP) customers were migrated to updated plans with revised features and prices from September 16.

25Sept 25

SBI Card and IndiGo Launch Co-Branded Credit Card, Offering Up to 7% Rewards on IndiGo Purchases

SBI Cards and Payment Services Limited has partnered with IndiGo to introduce the 'IndiGo SBI Card', a co-branded credit card for frequent travelers. Available in two variants - IndiGo SBI Card and IndiGo SBI Card ELITE, the cards offer rewards on IndiGo purchases, hotel and travel bookings, and other spending categories. Cardholders can earn IndiGo BluChips, enjoy welcome bonuses, milestone rewards, airport lounge access, and travel insurance benefits. The annual fees are ₹1,499 for the standard card and ₹4,999 for the ELITE variant, plus applicable taxes.

19Sept 25

SBI Cards Announces Key Leadership Changes: New Company Secretary and Chief People Officer

SBI Cards has appointed Payal Mittal Chhabra as Company Secretary and Avinash Agrawal as Chief People Officer, effective September 19, 2025. Anita Sontumyra, the previous Chief People Officer, has resigned. The company also participated in a Jefferies India conference on September 18, 2025, engaging with institutional investors and asset management companies.

15Sept 25

SBI Cards Engages with Institutional Investors in BoFA Securities Group Call, Announces Upcoming Conference

SBI Cards participated in a BoFA Securities group call on September 15, 2025, attracting 42 participants from major financial institutions. The company is also set to attend a Jefferies India conference on September 18, 2025. These activities demonstrate SBI Cards' commitment to transparent investor relations, sharing only publicly available information during these events.

03Sept 25

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

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.

26Aug 25

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

SBI Cards and Payment Services Limited (SBI Card) and Flipkart have introduced the 'Flipkart SBI Credit Card'. The card offers 7.5% cashback on Myntra, 5% on Flipkart, Shopsy, and Cleartrip, 4% on select brands, and 1% on all other eligible spends. It has a ₹500 annual fee, which is reversible on reaching ₹3,50,000 annual spends. The card is available on Mastercard and VISA platforms, with a seamless application process through the Flipkart App or SBI Card website. A launch offer includes chances to win Samsung Galaxy Smartwatches and Ambrane wireless power banks.

26Aug 25

SBI Card Slashes Card Protection Plan Prices, Enhances Benefits

SBI Cards is overhauling its Card Protection Plan from September 16, introducing three variants: Classic, Premium, and Platinum. The new plans offer significant price reductions ranging from 16.70% to 47.40%. Key benefits include one-call card blocking, SIM card blocking, emergency travel assistance, fraud protection up to ₹1 lakh, and mobile wallet protection. Family coverage varies by plan, with Platinum offering the most comprehensive protection. Existing customers will be migrated to new plans upon renewal.

21Aug 25

SBI Card Announces Changes to Reward Points and Card Protection Benefits

SBI Card announces changes to its reward program and card benefits, effective September. Reward points will no longer be earned on digital gaming and government payments for certain Lifestyle Home Centre SBI Card variants. Card Protection Plan memberships will migrate to new variants with updated features and pricing. Complimentary air accident insurance coverage will be removed from multiple co-branded cards, including ELITE, PRIME, and Platinum variants.

18Aug 25

SBI Cards Unveils Bank of Maharashtra Co-Branded Credit Card for Domestic Market

SBI Cards and Payment Services Limited has announced a new co-branded credit card in partnership with Bank of Maharashtra, targeting the domestic market. The 'Bank of Maharashtra SBI Card' was launched on August 18, 2025, as disclosed in regulatory filings to stock exchanges. This strategic collaboration aims to leverage the strengths of both institutions to enhance financial services for customers. The announcement was made in compliance with SEBI regulations, filed by SBI Cards' Chief Compliance Officer and Company Secretary, Payal Mittal Chhabra.

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.

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