SBI Card Q4 Revenue Rises To Rs4,832 Cr

PAT at Rs534 Cr, Up 39% QoQ

FinTech BizNews Service

Mumbai, April 24, 2025: The Board of Directors of SBI Cards and Payment Services Limited approved the Company’s results for Q4 FY’25 and the financial year ended March 31, 2025, at their meeting held on Thursday, April 24, 2025.

Business Highlights: New accounts volume at 1,109K accounts in Q4 FY’25 vs 1,029K accounts in Q4 FY’24. Card-in-force grew by 10% YoY at 2.08 Cr as of Q4 FY’25 vs 1.89 Cr as of Q4 FY’24. Spends grew by 11% YoY at Rs88,365 Cr in Q4 FY’25 vs Rs79,653 Cr in Q4 FY’24. Receivables grew by 10% YoY at Rs55,840 Cr in Q4 FY’25 vs Rs50,846 Cr in Q4 FY’24. Market share - for FY’25 Card-in-force is 18.9% (FY’24: 18.6%), Spends is 15.6% (FY’24: 17.8%), as per RBI Industry report available till Feb’25.

Performance Highlights Q4 FY25: Total Revenue increased by 8% YoY at Rs4,832 Cr in Q4 FY’25 vs Rs4,475 Cr in Q4 FY’24. PAT at Rs534 Cr in Q4 FY’25 vs Rs662 Cr in Q4 FY’24. ROAA at 3.4% in Q4 FY’25 vs 4.7% in Q4 FY’24. ROAE at 15.5% in Q4 FY’25 vs 22.1% in Q4 FY’24. Capital Adequacy Ratio at 22.9%; Tier 1 at 17.5%

Profit & Loss Account for the Quarter ended March 31, 2025: Total income increased by 8% to Rs4,832 Cr in Q4 FY’25 vs Rs4,475 Cr in Q4 FY’24. Interest income increased by 13% to Rs2,415 Cr in Q4 FY’25 vs Rs2,139 Cr in Q4 FY’24, Fees and commission income increased by 2% to Rs2,259 Cr in Q4 FY’25 vs Rs 2,209 Cr in Q4 FY’24, Finance costs increased by 10% to Rs795 Cr in Q4 FY’25 vs Rs724 Cr in Q4 FY’24, Total Operating cost increased by 8% to Rs2,073 Cr in Q4 FY’25 from Rs1,918 Cr in Q4 FY’24, Earnings before credit costs increased by 7% to Rs1,964 Cr in Q4 FY’25 vs Rs1,833 Cr in Q4 FY’24, Impairment losses & bad debts expenses increased by 32% at Rs1,245 Cr in Q4 FY’25 vs Rs944 Cr in Q4 FY’24, and Profit after tax decreased by 19% at Rs534 Cr in Q4 FY’25 vs Rs662 Cr in Q4 FY’24

 Profit & Loss Account for the financial year ended March 31, 2025: Total income increased by 7% to Rs 18,637 Cr in FY’25 vs Rs 17,484 Cr in FY’24. Finance costs increased by 22% to Rs 3,178 Cr in FY’25 vs Rs 2,595 Cr in FY’24. Total Operating cost decreased by 4% to Rs 8,007 Cr in FY’25 vs Rs 8,369 Cr in FY’24. Earnings before credit cost increased by 14% to Rs 7,452 Cr in FY’25 vs Rs 6,519 Cr in FY’24. Impairment losses & bad debts expenses increased by 48% to Rs 4,872 Cr in FY’25 vs Rs 3,287 Cr in FY’24. Profit after tax decreased by 20% at Rs 1,916 Cr in FY’25 vs Rs 2,408 Cr in FY’24

 Balance Sheet as of March 31, 2025: Total Balance Sheet size as of March 31, 2025 has been Rs65,546 Cr as against Rs58,171 Cr as of March 31, 2024. Total Gross Advances (Credit card receivables) as of March 31, 2025 were Rs55,840 Cr, as against Rs50,846 Cr as of March 31, 2024. Net worth as of March 31, 2025 has been Rs13,853 Cr as against Rs12,156 Cr as of March 31, 2024.

 Asset Quality: The Gross non-performing assets were at 3.08% of gross advances as of March 31, 2025 as against 2.76% as of March 31, 2024. Net non-performing assets were at 1.46% as of March 31, 2025 as against 0.99% as of March 31, 2024.

Capital Adequacy: As per the capital adequacy norms issued by the RBI, Company’s capital to risk ratio consisting of tier I and tier II capital should not be less than 15% of its aggregate risk weighted assets on - balance sheet and of risk adjusted value of off-balance sheet items. As of March 31, 2025, Company’s CRAR was 22.9% compared to 20.5% as of March 31, 2024. 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 17.5% as of March 31, 2025 compared to 16.5% as of March 31, 2024.

Rating

• CRISIL Long Term          -             AAA/Stable
• CRISIL Short Term         -             A1+
• ICRA Long Term             -             AAA/Stable
• ICRA Short Term             -             A1+

Summary Profit and Loss Statement (Rs Cr)

Summary Balance Sheet (Rs Cr)