SBI Cards Limited
SBI Cards and Payment Services Limited is a non-deposit accepting systemically important nonbanking financial company registered with the RBI. The Company is engaged in issuing credit cards to consumers in India. It is headquartered in Gurgaon, Haryana. It is a subsidiary of India’s largest commercial bank, the State Bank of India.
Brand
The Co has a portfolio of 8 types of core cards targeting different consumer segments. The co is India’s largest co-brand credit card issuer with 23 partners across industries (BPCL, Big bazaar, Etihad Airways, Vistara, IRCTC, Lifestyle retail, Federal Bank, and others).
Network
With a customer base of over 5 million, SBI Card operates through a footprint of more than 90 cities in India. SBI Card is the second largest credit card issuer in India, at present. SBI Card was launched as a joint venture between the State Bank of India and GE Capital.
Shareholding Pattern
- Public Group
- Promoter Group
Financial Summary
| Particulars | March 2023 | March 2022 | March 2021 |
| Sales | 13,670 | 10,679 | 9,301 |
| Interest | 1,648 | 1,027 | 1,043 |
| Expenses | 9,444 | 7,953 | 7,223 |
| Financing Profit | 2,579 | 1,699 | 1,034 |
| Profit before tax | 3,031 | 2,172 | 1,324 |
| Profit after tax | 2,258 | 1,616 | 985 |
| EPS in Rs | 23.87 | 17.14 | 10.47 |
Final Outlook
Standalone Total Income of Rs 4221.40 Crore in the latest quarter, the company reported higher total income than in the previous quarter (Rs 4046.11 Crore) and higher than in the same quarter of the previous year (Rs 3453.32 Crore). September 30, 2023, marked the end of the quarter. The company reported net profit after tax of Rs 602.98 crore for the most recent quarter. There is a buy call on SBI Cards and Payment Services with a target price of Rs 900. Currently on the market, SBI Cards and Payment Services cost Rs 751.
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