Mumbai : The Board of Directors of SBI Cards and Payment Services Limited approved the Company’s results for the Quarter ended September 30, 2025, at their meeting held on Friday, October 24, 2025.

Performance Highlights Q2 FY26

  • Total Revenue increased by 13% YoY at ₹ 5,136 Cr in Q2 FY26 v/s ₹ 4,556 Cr in Q2 FY25
  • PAT at ₹ 445 Cr in Q2 FY26 v/s ₹ 404 Cr in Q2 FY25
  • ROAA at 2.6% in Q2 FY26 v/s 2.7% in Q2 FY25
  • ROAE at 12.1% in Q2 FY26 v/s 12.5% in Q2 FY25
  • Capital Adequacy Ratio at 22.5%; Tier 1 at 17.5%

Business Highlights

  • Cards-in-force grew by 10% YoY at 2.15 Cr as of Q2 FY26 v/s 1.96 Cr as of Q2 FY25
  • New accounts volume at 936K in Q2 FY26 v/s 904K new accounts in Q2 FY25
  • Spends grew by 31% YoY at ₹ 107,063 Cr in Q2 FY26 v/s ₹ 81,893 Cr in Q2 FY25
  • Receivables grew by 8% YoY at ₹ 59,845 Cr in Q2 FY26 v/s ₹ 55,601 Cr in Q2 FY25
  • Market share for *Q2 FY26 Card-in-force is at 19.0% (Q2 FY25: 18.5%), Spends is at 17.0% (Q2 FY25: 15.7%), #2 for Cards-in-force and #3 for spends, in industry. (Note-* As per RBI data available till Aug’25).

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

  • Total income increased by 13% at ₹ 5,136 Cr in Q2 FY26 v/s ₹ 4,556 Cr in Q2 FY25. This movement was a result of the following key factors:
    • Interest income increased by 9% at ₹ 2,490 Cr in Q2 FY26 v/s ₹ 2,290 Cr in Q2 FY25
    • Fees and commission income increased by 16% at ₹ 2,471 Cr in Q2 FY26 v/s ₹ 2,131 Cr in Q2 FY25
  • Finance costs declined by 4% at ₹ 760 Cr in Q2 FY26 v/s ₹ 788 Cr in Q2 FY25 due to Lower cost of borrowings.
  • Total Operating cost increased by 24% at ₹ 2,484 Cr in Q2 FY26 from ₹ 2,011 Cr in Q2 FY25
  • Earnings before credit costs increased by 8% at ₹ 1,892 Cr in Q2 FY26 v/s ₹ 1,757 Cr in Q2 FY25
  • Impairment losses & bad debts expenses increased by 7% at ₹ 1,293 Cr in Q2 FY26 v/s ₹ 1,212 Cr in Q2 FY25
  • Profit after tax increased by 10% at ₹ 445 Cr in Q2 FY26 v/s ₹ 404 Cr in Q2 FY25

Balance Sheet as of September 30, 2025

  • Total Balance Sheet size as of September 30, 2025, was ₹ 69,862 Cr as against ₹ 65,546 Cr as of March 31, 2025
  • Total Advances (Net of provisions) as of September 30, 2025, were ₹ 57,856 Cr, as against ₹ 53,935 Cr as of March 31, 2025
  • Net worth as of September 30, 2025, was ₹ 14,861 Cr as against ₹ 13,853 Cr as of March 31, 2025