SBI Cards & Payment Services
Business highlights
New accounts volume at 917K accounts in Q4FY26 against 1109K accounts in Q4FY25
Card-in-force grew by 6% YoY at 2.21 crore as of Q4FY26 against 2.08 crore as of Q4FY25
Spends grew by 31% YoY at Rs 115,350 crore in Q4FY26 against Rs 88,365 crore in Q4FY25
Receivables grew by 2% YoY at Rs 56,926 crore in Q4FY26 against Rs 55,840 crore in Q4FY25
Market share - for FY26 Card-in-force is 18.6% (FY25: 19.0%), Spends is 18.1% (FY25: 15.7%).
Profit & Loss Account for the Quarter ended March 31, 2026
Total income increased by 7% to Rs 5187 crore in Q4FY26 against Rs 4,832 crore in Q4FY25. This movement was a result of one of following key factors:
Fees and other revenue increased by 13% to Rs 2,553 crore in Q4FY26 against Rs 2259 crore in Q4FY25
Impairment losses & bad debts expenses decreased by 12% at Rs 1,097 crore in Q4FY26 against Rs 1245 crore in Q4FY25
Net worth has been Rs 15797 crore at end March 2026 as against Rs 13853 crore at end March 2025
ROAA at 3.6% in Q4FY26 against 3.4% in Q4FY25. ROAE at 15.6% in Q4FY26 against 15.5% in Q4FY25
Asset Quality
GNPA was at 2.41 % of gross advances at end March 2026 as against 3.08% at end March 2025. Net non-performing assets were at 1.04% at end March 2026 as against 1.46% at end March 2025.
Company`s CRAR was 25.5% at end March 2026 compared to 22.9% at end March 2025. The tier I capital in respect of an NBFC-ND-SI, at any point of time, can`t be less than 10%. Company`s Tier I capital was 20.0% at end March 2026 compared to 17.5% at end March 2025.
Financial performance FY2026
The income from operation of SBI Cards & Payment Services increased 10.11% to Rs 19899.63 crore in FY2026. Overall OPM eased to 51.64% in FY2026 from 56.51% in FY2025, leading to 0.62% rise in operating profit to Rs 10,275.42 crore. Other expenditure as a percentage of total income moved up to 45.04% from 40.23% in FY2026. The staff cost as a percentage of total income increased to 3.32% from 3.26% in FY2026. Other income increased 43.02% to Rs 807.99 crore. There is 3.36% fall in interest cost at Rs 3071.58 crore and 7.20% decline in depreciation to Rs 136.25 crore, Provisions increased 1.87% to Rs 4,962.39 crore. Profit before tax increased 12.88% to Rs 2,913.19 crore. There is no extraordinary item. After which, PBT increased 12.88% to Rs 2,913.19 crore. The effective tax rate declined to 25.62% in FY2026 compared to 25.74% in FY2025. Provision for tax was expense of Rs 746.48 crore, compared to Rs 664.27 crore. Profit after tax rose 13.06% to Rs 2,166.71 crore.| SBI Cards and Payment Services: Results | ||||||
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| 2603 (3) | 2503 (3) | Var % | 2603 (12) | 2503 (12) | Var % |
| Income from operations | 4934.50 | 4673.95 | 6 | 19899.63 | 18072.22 | 10 |
| Other Income | 252.54 | 157.79 | 60 | 807.99 | 564.93 | 43 |
| Total Income | 5187.04 | 4831.74 | 7 | 20707.62 | 18637.15 | 11 |
| Interest Expenses | 713.62 | 795.26 | -10 | 3071.58 | 3178.40 | -3 |
| Other expenses | 2528.37 | 2074.52 | 22 | 9624.21 | 7859.74 | 22 |
| Gross profit | 1945.05 | 1961.96 | -1 | 8011.83 | 7599.01 | 5 |
| Depreciation | 32.32 | -1.69 | PL | 136.25 | 146.82 | -7 |
| Profit before tax and Provisions | 1912.73 | 1963.65 | -3 | 7875.58 | 7452.19 | 6 |
| Provisions and write off | 1096.82 | 1245.12 | -12 | 4962.39 | 4871.51 | 2 |
| Profit before tax | 815.91 | 718.53 | 14 | 2913.19 | 2580.68 | 13 |
| Provision for tax | 206.61 | 184.35 | 12 | 746.48 | 664.27 | 12 |
| PAT | 609.30 | 534.18 | 14 | 2166.71 | 1916.41 | 13 |
| EPS (Rs)* | 25.6 | 22.5 | 22.8 | 20.1 | ||
| Equity | 951.6 | 951.4 | 951.6 | 951.4 | ||
| Adj BV (Rs) | 159.0 | 136.3 | 159.0 | 136.3 | ||
| * EPS and Adj BV are calculated on diluted equity as given for each year, Face value of Rs 10, Excluding extraordinary items. PL: Profit to Loss, LP: Loss to Profit | ||||||
| Figures in Rs crore | ||||||
| Source: Capitaline Corporate Database | ||||||
