SBI Card’s PAT Up 75% YoY At Rs778 Cr

Impairment losses & bad debts expenses decreased by 37% at Rs 819 Cr in Q2 FY27 v/s Rs 1,293 Cr in Q2 FY26

FinTech BizNews Service    

Mumbai, 23 October, 2026: The Board of Directors of SBI Cards and Payment Services Limited approved the Company’s results for the Quarter ended September 30, 2026, at their meeting held on Friday, October 23, 2026.

Performance Highlights Q2 FY27

• Total Revenue increased by 3% YoY at Rs 5,302 Cr in Q2 FY27 v/s Rs 5,136 Cr in Q2 FY26
• PAT at Rs 778 Cr in Q2 FY27 v/s Rs 445 Cr in Q2 FY26
• ROAA at 4.4% in Q2 FY27 v/s 2.6% in Q2 FY26
• ROAE at 18.4% in Q2 FY27 v/s 12.1% in Q2 FY26
• Capital Adequacy Ratio at 26.5%; Tier 1 at 21.2%

Business Highlights

• Cards-in-force grew by 8% YoY at 2.32 Cr as of Q2 FY27 v/s 2.15 Cr as of Q2 FY26
• New accounts volume at 1,106K in Q2 FY27 v/s 936K new accounts in Q2 FY26
• Spends grew by 3% YoY at Rs 110,689 Cr in Q2 FY27 v/s Rs 107,063 Cr in Q2 FY26
• Receivables lower by 2% YoY at Rs 58,376 Cr in Q2 FY27 v/s Rs 59,845 Cr in Q2 FY26
• Market share for *Q2 FY27 Card-in-force is at 18.5% (Q2 FY26: 19.0%), Spends is at 18.2% (Q2 FY26: 17.7%),#2 for Cards-in-force and spends, in industry. (Note-* As per RBI data available till Aug’26)

Profit & Loss Account for the Quarter ended September 30, 2026

• Total income increased by 3% at Rs 5,302 Cr in Q2 FY27 v/s Rs 5,136 Cr in Q2 FY26. This movement was a result of the following key factors:
  1. Interest income increased by 1% at Rs 2,511 Cr in Q2 FY27 v/s Rs 2,490 Cr in Q2 FY26
  2. Fees and other income increased by 6% at Rs 2,630 Cr in Q2 FY27 v/s Rs 2,471 Cr in Q2 FY26
• Finance costs increased by 4% at Rs 787 Cr in Q2 FY27 v/s Rs 760 Cr in Q2 FY26 due to Higher cost of borrowings.
•  Total Operating cost increased by 7% at Rs 2,649 Cr in Q2 FY27 from Rs 2,484 Cr in Q2 FY26
• Earnings before credit costs decreased by 1% at Rs 1,865 Cr in Q2 FY27 v/s Rs 1,892 Cr in Q2 FY26
• Impairment losses & bad debts expenses decreased by 37% at Rs 819 Cr in Q2 FY27 v/s Rs 1,293 Cr in Q2 FY26
• Profit after tax increased by 75% at Rs 778 Cr in Q2 FY27 v/s Rs 445 Cr in Q2 FY26 

Balance Sheet as of September 30, 2026

• Total Balance Sheet size as of September 30, 2026, was Rs 71,102 Cr as against Rs 66,328 Cr as of March 31, 2026
• Total Advances (Net of provisions) as of September 30, 2026, were Rs 56,532 Cr, as against Rs 54,984 Cr as of March 31, 2026
• Net worth as of September 30, 2026, was Rs 17,244 Cr as against Rs 15,797 Cr as of March 31, 2026

Asset Quality

The Gross non-performing assets were at 1.90% of gross advances as of September 30, 2026, as against 2.85% as of September 30, 2025. Net non-performing assets were at 0.77% as of September 30, 2026, as against 1.29% as of September 30, 2025.       

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 September 30, 2026, Company’s CRAR was 26.5% compared to 22.5% as of September 30, 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 21.2% as of September 30, 2026, compared to 17.5% as of September 30, 2025.

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)