Total Revenue at ₹ 5,035 Cr Up 12% YoY; PAT at ₹ 556 Cr

Mumbai : The Board of Directors of SBI Cards and Payment Services Limited approved the Company’s results for the Quarter ended June 30, 2025, at their meeting held on Friday, July 25, 2025.

Performance Highlights Q1 FY26

  • Total Revenue increased by 12% YoY at ₹ 5,035 Cr in Q1 FY26 v/s ₹ 4,483 Cr in Q1 FY25
  • PAT at ₹ 556 Cr in Q1 FY26 v/s ₹ 594 Cr in Q1 FY25
  • ROAA at 3.4% in Q1 FY26 v/s 4.1% in Q1 FY25
  • ROAE at 15.8% in Q1 FY26 v/s 19.1% in Q1 FY25
  • Capital Adequacy Ratio at 23.2%; Tier 1 at 17.9%

Business Highlights

  • Cards-in-force grew by 10% YoY at 2.12 Cr as of Q1 FY26 v/s 1.92 Cr as of Q1 FY25
  • New accounts volume at 873K in Q1 FY26 v/s 904K new accounts in Q1 FY25
  • Spends grew by 21% YoY at ₹ 93,244 Cr in Q1 FY26 v/s ₹ 77,129 Cr in Q1 FY25
  • Receivables grew by 7% YoY at ₹ 56,607 Cr in Q1 FY26 v/s ₹ 52,705 Cr in Q1 FY25
  • Market share for Q1 FY26 Card-in-force is at 19.1% (Q1 FY25: 18.5%), Spends is at 16.6% (Q1 FY25: 15.9%), #2 for Cards-in-force and #3 for spends, in industry

Profit & Loss Account for the Quarter ended June 30, 2025

  • Total income increased by 12% at ₹ 5,035 Cr in Q1 FY26 v/s ₹ 4,483 Cr in Q1 FY25. This movement was a result of the following key factors:
    • Interest income increased by 11% at ₹ 2,493 Cr in Q1 FY26 v/s ₹ 2,243 Cr in Q1 FY25
    • Fees and commission income was up by 13% at ₹ 2,384 Cr in Q1 FY26 v/s ₹ 2,115 Cr in Q1 FY25
  • Finance costs increased by 6% at ₹ 813 Cr in Q1 FY26 v/s ₹ 767 Cr in Q1 FY25 due to higher receivables.
  • Total Operating cost increased by 17% at ₹ 2,123 Cr in Q1 FY26 v/s ₹ 1,816 Cr in Q1 FY25
  • Earnings before credit costs increased by 11% at ₹ 2,100 Cr in Q1 FY26 v/s ₹ 1,900 Cr in Q1 FY25
  • Impairment losses & bad debts expenses increased by 23% at ₹ 1,352 Cr in Q1 FY26 v/s ₹ 1,101 Cr in Q1 FY25
  • Profit after tax was down 6% at ₹ 556 Cr in Q1 FY26 v/s ₹ 594 Cr in Q1 FY25

Balance Sheet as of June 30, 2025

  • Total Balance Sheet size as of June 30, 2025 has been ₹66,009 Cr as against ₹65,546 Cr as of March 31, 2025
  • Total Gross Advances (Credit card receivables) as of June 30, 2025 were ₹56,607 Cr, as against ₹55,840 Cr as of March 31, 2025
  • Net worth as of June 30, 2025 has been ₹14,413 Cr as against ₹13,853 Cr as of March 31, 2025