SBI Cards Surges: 45% Profit Jump in December Quarter

SBI Cards and Payment Services saw a 45% increase in profit to Rs 445 crore for the December quarter. The company's income rose to Rs 5,353 crore. Despite rising costs, asset quality improved. Capital adequacy remains strong with increased net worth at Rs 15,424 crore.

SBI Cards and Payment Services has reported a significant 45% increase in profit, totaling Rs 445 crore for the December quarter. This marks an ascent from the Rs 383 crore profit during the same quarter last year. The firm, a leading credit card company sponsored by SBI, saw its total income rise to Rs 5,353 crore from the previous year's Rs 4,767 crore, according to its latest regulatory filing.

The company's operating expenses also rose by 23% to Rs 2,597 crore for the third quarter of FY26, up from Rs 2,107 crore in the year-earlier period. On the asset quality front, SBI Cards reported an improvement, with gross non-performing assets (NPA) dropping to 2.86% from 3.24% year-on-year. However, there was a slight increase in net NPA, climbing to 1.28% from 1.18% at the end of the December quarter last year.

SBI Cards maintains capital adequacy with a capital risk ratio above the 15% threshold set by RBI guidelines. The company's net worth has also seen growth, reaching Rs 15,424 crore compared to Rs 13,853 crore as of March 31, 2025.

(With inputs from agencies.)