Sbi Cards And Payment Services Limited has informed the Exchange about Investor Presentation
April 29, 2022
The BSE Limited Corporate Relationship Department. PJ. Towers. Dalal Street, Fort Mumbai - 400 001
The National Stock Exchange of India Limited Exchange Plaza, Bandra-Kurla Complex. Bandra (E), Mumbai - 400 051
SCRIP CODE: 543066
SYMBOL: SBICARD
SECURITY: Equity Shares/Debentures
SECURITY: Equity Shares
Dear Sirs,
Re: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure - Copy of Presentation made for
Requirements) Regulations, 2015 Analysts/Investors on Financial Results
In compliance with the provisions of Regulation 30 read with Schedule III Part A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith a copy of presentation made for Analysts/Investors on Financial Results of the Company for the quarter and the year ended March 31, 2022
Kindly take the same on record.
Thanking you,
Yours faithfully,
For SBI Cards and
t Services Limited
7t i al 1. o·CD
Cl)
tal Chha Secretary & Compliance Officer
SBI Cards and Payment Services Ltd. (Formerly known as SBI Cards and Payment Services Pvt. Ltd.)
DLF Infinity Towers, Tower C, 12th Floor, Block 2, Building 3, DLF Cyber City, Gurugram - 122002,
Haryana, India
Tel.: 0124-4589803
Registered Office:
Email: customercare@sbicard.com Website: sbicard.com
Unit 401 & 402, 4th Floor, Aggarwal Millennium Tower,
E 1,2,3, Netaji Subhash Place, Wazirpur, New Delhi - 110034
CIN - L65999DL 1998PLC093849
Investor Presentation
Q4 FY22
April 29, 2022
OSBI Card
Q4 FY22 Key Highlights
Strong business performance driving higher profits PAT ₹ 581 Cr, 231% YoY
Sustained business growth
• New accounts at 1MN+, 27% YoY Spends at ₹ 54,100 Cr+ 51% YoY •
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o Retail spends at ₹ 41,800 Cr+, 40% YoY ;Corporate Spends at ₹ 12,200 Cr+ 102% YoY
•
Receivables at ₹ 31,281 Cr, 25% YoY
Robust financials
• • •
Total revenue at ₹ 3,016 Cr, 22% YoY PAT at ₹ 581 Cr, 231% YoY ROAA at 7.0%, 438 bps YoY and ROAE at 30.4%, 1921 bps YoY
Improvement in Asset quality continues
• GNPA at 2.22%, 278 bps YoY (4.99% as of Mar’21) and NNPA at 0.78%, 37 bps YoY (1.15% as of Mar’21) • Management overlay at ₹ 51 Cr (RBI RE at ₹ 287 Cr less than 1% of receivables) • Healthy capital adequacy, CAR at 23.8%, Tier 1 at 21.0%
New Products
• Cobrand with Nature’s Basket
2
Executive Summary Q4 FY22 (VS Q4 FY21)
Figures in ₹ Cr
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Profitable operations
PAT ₹ 581 Cr, 231% YoY
Market Share (FY22)*
Cards in force 18.9% (FY21 19.1%), Spends 19.2% (FY21 19.4%), Transactions 19.8% (FY21 19.7%)
Growing Portfolio
16% YoY in cards, 51% YoY in spends, 25% YoY in receivables
PAT 581
ROAA 7.0%
ROAE 30.4%
231%/ 51 %
438 bps/192 bps
1921bps/914 bps
CAR 23.8%
Receivables 31,281
NNPA 0.78%
92 bps/ 41 bps
25%/ 7 %
37 bps / 5 bps
Asset Quality
GNPA @ 2.22%, NNPA @ 0.78% Management overlay at ₹ 51 Cr
I ,---------------------------------------------
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Adequate liquidity
Diversified borrowings mix, adequate banking limits available. Healthy CAR @ 23.8%, T-1 @ 21.0%
*As per RBI report available till Feb’22
Cards in Force 1.38 Cr
Spends 54,134
16%/ 5%
51%/ 2%
'---------------------------------------------------------------------------------✓ / Represents YoY growth over Q4 FY21
/ Represents QoQ growth over Q3 FY22
GNPA 2.22% in Mar’22 vs 4.99% in Mar’21 and 2.40% in Dec’21
3
Executive Summary FY22 (VS FY21)
Profitable operations
PAT ₹ 1,616 Cr, 64% YoY
Market Share (FY22)*
Cards in force 18.9% (FY21 19.1%), Spends 19.2% (FY21 19.4%), Transactions 19.8% (FY21 19.7%)
Growing Portfolio
16% YoY in cards, 52% YoY in spends, 25% YoY in receivables
Figures in ₹ Cr
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PAT 1,616
64%
CAR 23.8%
92 bps
ROAA 5.4%
ROAE 22.8%
156 bps
621 bps
Receivables 31,281
25%
NNPA 0.78%
37 bps
Asset Quality
GNPA @ 2.22%, NNPA @ 0.78% Management overlay at ₹ 51 Cr
I ,---------------------------------------------
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Adequate liquidity
Diversified borrowings mix, adequate banking limits available. Healthy CAR @ 23.8%, T-1 @ 21.0%
*As per RBI report available till Feb’22
Cards in Force 1.38 Cr
16%
Spends 186,353
52%
'---------------------------------------------------------------------------------✓ / Represents YoY growth over FY21
GNPA 2.22% in Mar’22 vs 4.99% in Mar’21
4
Delivered Impressive 12M Results
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Business Growth
New Accounts + 33%
2,685K →
3,572K
FY21 FY22
Retail Spends + 43% 102,414 Cr → 146,457 Cr FY21 FY22
Receivables + 25% 25,114 Cr → 31,281 Cr Mar 21 Mar 22
Strong net income growth
Total Income + 16% 9,714 Cr → 11,302 Cr FY21 FY22
EBCC + 10% 4,024 Cr → 4,430 Cr FY21 FY22
PAT + 64% 985 Cr → 1,616 Cr FY21 FY22
Improving asset quality
GCL % (-) 278 bps
GNPA % (-) 278 bps
ECL % (-) 309 bps
11.0% →
8.3%
FY21 FY22
4.99% → 2.22% Mar 21 Mar 22
6.6% → 3.5% Mar 21 Mar 22
Profitability ratios
ROAA + 156 bps
ROAE + 621 bps
EPS (Basic) + 64%
3.8% → 5.4% FY21 FY22
16.6% →
22.8%
FY21 FY22
10.48 →
17.16 FY21 FY22
~ - - - - - - - - - - - - - - - - - - - - - ' - - - - - - - - - - - - - - - - - - - -
5
Key Trends
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New Accounts (‘000)
Corporate Spends (₹ Cr)
1,008
1,002
791
286
333
383
12,980 12,263
3,868
3,828
4,567
6,080
Q4 FY21 Q3 FY22 Q4 FY22
Jan'22
Feb'22
Mar'22
Q4 FY21 Q3 FY22 Q4 FY22
Jan'22
Feb'22
Mar'22
Retail Spends (₹ Cr)
42,417 41,872
29,863
13,693
12,328
15,851
Q4 FY21 Q3 FY22 Q4 FY22
Jan'22
Feb'22
Mar'22
Receivables (₹ Cr)
25,114
8% 29% 28% 35%
Mar'21
Transactor
■
29,129
31,281
2%
33% 27% 38%
Dec'21 Revolver
■
1% 34% 25% 40%
Mar'22
EMI
■
RBI RE
■
6
Market Share
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Dominant credit card player in India
Cards in force
Spends
Transactions
19.4%
19.2%
19.7%
19.8%
17.6%
18.3%
19.1%
18.9%
17.9%
17.1%
15.8%
17.7%
FY19
FY20
FY21
FY22 *
FY19
FY20
FY21
FY22*
FY19
FY20
FY21
FY22*
*As per RBI report available till Feb’22
7
New Accounts and Cards-in-force
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New Accounts (‘000)
Cards-in-force (‘000)
1,008
1,002
Q3 FY22
Q4 FY22
11,822
13,161
13,767
Q4 FY21
Q3 FY22
Q4 FY22
791
-
Q4 FY21
Channel wise Split
Channel wise Split
45.6% 49.3% 53.8%
54.4% 50.7% 46.2%
Q4 FY21
Q3 FY22
Q4 FY22
SBI
■
Open Market
■
56.4% 56.7% 56.8%
43.6% 43.3% 43.2%
Q4 FY21
Q3 FY22
Q4 FY22
Banca
■
Open Market
■
8
Portfolio Growth
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Spends (₹ Cr)
35,943
55,397
54,134
Receivables (₹ Cr)
25,114
29,129
31,281
Q4 FY21
Q3 FY22
Q4 FY22
Q4 FY21
Q3 FY22
Q4 FY22
Spend per Avg Card (₹ ‘000)
123
172
161
Receivable per Card (₹)
21,244
22,133
22,722
Q4 FY21
Q3 FY22
Q4 FY22
Q4 FY21
Q3 FY22
Q4 FY22
30 day spend active rate %
49.0%
52.0%
50.0%
Q4 FY21
Q3 FY22
Q4 FY22
Receivable Mix %
8%
2% 33%
1% 34%
27%
29% 28%
- - -
Q3 FY22 Revolver
Q4 FY22 EMI
Q4 FY21
38%
40%
25%
35%
■
■
Transactor
■
RBI RE
■
9
Portfolio Insights
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Occupation
Salaried Category
Age profile
By City Tier
g n i c r u o S w e N
2 2 Y F
4 Q r o F
e c r o F
- n
i
- s d r a C
2 2 0 2 r a M
t s 1 3 n o
s A
24%
34%
38%
20%
33%
21%
29%
76%
29%
47%
30%
20%
Salaried
■
Self Employed
■
Govt/PSU
■
Cat A
■
Cat B
■
Under 30
■
31-45
■
>45
■
Tier 1
■
Tier 2
■
Tier 3
■
Others
■
1.33
16%
1.19
33%
0.70
40%
0.83
25%
23%
1.18
84%
0.95
27%
1.02
52%
1.00
1.11
13%
1.08
17%
25%
0.91
45%
1.00
Salaried
■
Self Employed
■
Govt/PSU
■
Cat A
■
Cat B
■
Under 30
■
31-45
■
>45
■
Tier 1
■
Tier 2
■
Tier 3
■
Others
■
Self employed new sourcing primarily from SBI Sourcing
Indexed 30+ delinquency
10
Retail Spends Insights
OSBl card
Online Spend %
43.0%
44.9%
44.2%
51.9%
54.4%
FY18
FY19
FY20
FY21
FY22
I'
'
Spends Categories
Total Spends
POS Spends Online Spends
% Growth^
/ I
'
-------- ' Q4 FY22 Vs DJF’20*
I
Category 1 Departmental Stores, Health, Utilities, Education & Direct Marketing
Category 2 Consumer durables, Furnishing & Hardware
Category 3 Apparel & Jewellery
• • ....
24%
4%
35%
19%
21%
14%
.... • ....
• • ....
26%
26%
24%
Category 4 Travel Agents, Hotels, Airline, Railways, Entertainment & Restaurant
....
8%
....
7%
....
9%
'
^ Q4 FY22 Over Q3 FY22 | * Total Spends of Q4 FY22 compared to Dec’19, Jan-Feb’20 : Pre-Covid Period Category analysis excludes Fuel & Automotive Service category
..... _______ .,
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11
Financial Results
Total Revenue* Finance Costs
Operating Costs Earnings before Credit Costs Credit Costs# PBT
Cost to Income
Gross NPA
Net NPA
ROAA
ROAE
Q4 FY21
Q3 FY22
Q4 FY22
2,468
244
1,285
939
705
234
57.8%
4.99%
1.15%
2.6%
11.2%
3,140
277
1,719
1,144
625
519
60.0%
2.40%
0.83%
5.0%
21.2%
3,016
267
1,577
1,172
393
779
57.4%
2.22%
0.78%
7.0%
30.4%
YoY
22%
10%
23%
25%
-44%
232%
-42bps
-278bps
-37bps
438bps
1921bps
FY21
9,714
1,043
4,646
4,024
2,700
1,324
53.6%
4.99%
1.15%
3.8%
16.6%
FY22
11,302
1,027
5,844
4,430
2,258
2,172
56.9%
2.22%
0.78%
5.4%
22.8%
EPS ₹ (Basic)
1.87
4.10
6.16
230%
10.48
17.16
* Total revenue includes provision write back of ₹ 108 Cr in Q3 FY22 due to GST refund
# Credit costs include additional wave 3 overlay of ₹ 76 Cr in Q3 FY22 and is released in Q4 FY22 Credit costs include impairment losses on other assets and net loss on derecognition of financial instruments under amortized cost category (₹ 61 Cr in Q4 FY21 and FY21, ₹ 2 Cr in FY22)
YoY
16%
-2%
26%
10%
-16%
64%
329bps
-278bps
-37bps
156bps
621bps
64%
Figures in ₹ Cr
OSBl card
PAT
1,616
985
386
581
175
Q4 FY21 Q3 FY22 Q4 FY22
FY21
FY22
12
Explaining Returns
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Interest Income
Fees and other Income
Recoveries Total Revenue
Finance Costs
Operating Costs
Earnings before Credit Costs
Credit Costs PBT
Taxes
ROAA
Avg Assets/Avg Equity
ROAE
Q4 FY21
Q3 FY22
Q4 FY22
15.9%
18.4%
2.0% 36.4%
3.6%
18.9%
13.8%
10.4% 3.5%
0.9%
2.6%
4.3
16.6%
22.5%
1.8% 41.0%
3.6%
22.4%
14.9%
8.2% 6.8%
1.7%
5.0%
4.2
15.2%
19.1%
1.9% 36.1%
3.2%
18.9%
14.0%
4.7% 9.3%
2.4%
7.0%
4.4
YoY
-77bps
71bps
-15bps -22bps
-39bps
-4bps
21bps
-568bps 588bps
151bps
438bps
FY21
19.3%
17.0%
1.6% 37.9%
4.1%
18.1%
15.7%
10.5% 5.2%
1.3%
3.8%
4.3
FY22
16.3%
19.8%
1.7% 37.8%
3.4%
19.5%
14.8%
7.5% 7.3%
1.9%
5.4%
4.2
YoY
-303bps
279bps
13bps -10bps
-64bps
142bps
-89bps
-298bps 210bps
54bps
156bps
11.2%
21.2%
30.4%
1921bps
16.6%
22.8%
621bps
13
Revenue
Figures in ₹ Cr
OSBl card
Q4 FY21
Q3 FY22
Q4 FY22
YoY
FY21
FY22
YoY
Revenue from Operations Other Income$ Total Revenue Finance Costs Net Revenue
Interest Income Yield# Cost of Funds* Net Interest Margin
2,319 149 2,468 244 2,224
2,889 250 3,140 277 2,863
2,850 166 3,016 267 2,749
23% 11% 22% 10% 24%
9,296 417 9,714 1,043 8,670
10,677 624 11,302 1,027 10,274
15% 50% 16% -2% 19%
17.1% 5.5% 13.2%
17.9% 5.4% 14.0%
16.8% 4.9% 13.2%
-27 bps -59 bps 2 bps
20.1% 6.1% 15.9%
17.6% -251 bps -92 bps 13.9% -200 bps
5.2%
Composition Revenue from operations
Q4 FY21
Q3 FY22
Q4 FY22
23%
22%
47%
8%
22%
27%
44%
22%
26%
7%
8%
44%
$ Other income includes provision write back of Rs. 108 Cr in Q3 FY22 due to GST refund.
••·····························•
Interest Income Spend based
■ ■
Subscription based Instance based & other
■ ■
# Interest Income yield is based on interest income from card holders (excluding Interest income on investments, deposits & others).
*Finance costs includes interest on lease. Cost of funds is calculated by adding lease liabilities, included in other liabilities, to borrowings.
14
Borrowings & Capital Adequacy
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Cost of funds
Leverage
5.5%
5.4%
Q4 FY21
Q3 FY22
4.9%
Q4 FY22
Borrowing Composition
Mar’21
Dec’21
28%
12%
60%
36%
4%
60%
Mar’22
2%
33%
4%
62%
Bank Lines
■
Commercial Papers
■
NCD
■
Term Loan
Credit Ratings :
▪
▪
Short Term : A1+ by CRISIL & ICRA
Long Term : AAA/Stable by CRISIL & ICRA
4.0
3.9
4.1
Mar'21
Dec'21
Mar'22
Capital Adequacy Ratio
Tier - I
■
Tier - II
■
24.8%
3.9%
20.9%
24.2%
2.9%
21.3%
23.8%
2.8%
21.0%
Mar'21
Dec'21
Mar'22
Liquidity Coverage Ratio
62%
73%
60%
79%
60%
50%
LCR%
Mar'21
-
Dec'21
Mar'22
Statutory requirement
15
Leverage = Liabilities / Tier 1 Equity Finance costs includes interest on lease. Cost of funds is calculated by adding lease liabilities, included in other liabilities, to borrowings.
Structural Liquidity (ALM)
Asset Liability Maturity profile – Mar’22
Inflows
■
Outflows
■
4,432
2,392
2,768
1,327
3,987
2,945
4,910
4,504
5,175
5,272
4,327
3,274
3,617
3,476
2,747
2,086
1-7 D
8-14 D
15-30/31 D
1-2M
2-3M
3-6M
6-12 M
1y-3y
Cumulative mismatches
1,021
181
-• I
3y-5y
>5 yr
Figures in ₹ Cr
OSBl card
8,738
2,118
▪ Well matched ALM
▪
₹5,005 Cr (25%) of sanctioned bank lines unutilized and available for draw down as at Mar’22
2,040
3,481
4,523
4,929
4,587
7,676
8,405
7,461
6,620
0
16
Operating Costs
Q4 FY21
Q3 FY22
Q4 FY22
YoY
FY21
FY22
YoY
Employee Cost Depreciation Fees and commission expense$ Other operating expenses Operating Costs
126 34 179 946 1,285
121 37 311 1,250 1,719
121 39 302 1,115 1,577
-4% 15% 69% 18% 23%
492 123 607 3,425 4,646
473 149 1,023 4,201 5,844
-4% 21% 69% 23% 26%
Cost to Income %
57.8%
60.0%
57.4%
-42 bps
53.6%
56.9%
329 bps
Fees and commission expense earlier clubbed under other operating expenses are shown separately from current quarter.
Figures in ₹ Cr
OSBl card
Operating Leverage
4%
1%
-
-4%
-8%
24%
23%
QoQ Vs. Q3 FY22
YoY Vs. Q4 FY21
•
Net revenue growth
•
Opex growth
17
Asset Quality
Figures in ₹ Cr
OSBl card
Q4 FY21 Q3 FY22
Q4 FY22
YoY
FY21
FY22
YoY
Stage Wise NEA
Impairment and losses
Gross Credit Costs
Recoveries
Net Credit Costs
Gross Credit Cost % Net Credit Cost % ECL %
GNPA NNPA PCR
393
393
(157)
-44%
-44%
14%
236
-58% 5.2% -588bps 3.1% -579bps 3.5% -309bps 2.22% -278bps -37bps 0.78% 65.3% -1260bps
2,700
2,700
(398)
2,302 11.0% 9.4% 6.6% 4.99% 1.15% 77.9%
2,258
2,258
(503)
-16%
-16%
26%
1,755 -24% 8.3% -278bps 6.4% -299bps 3.5% -309bps 2.22% -278bps -37bps 0.78% 65.3% -1260bps
705
705
625
625
(138)
(140)
567 11.1% 8.9% 6.6% 4.99% 1.15% 77.9%
486 9.0% 7.0% 4.0% 2.40% 0.83% 65.9%
ECL Provisions
6.6%
5.7%
5.0%
♦ ----
2.0%
Mar'21
3.5% ----------+--------------+--------------+--------------+
4.7%
4.2%
3.4%
3.3%
4.0%
Jun'21
Sep'21
Dec'21
Mar'22
-- ♦-- ·
Without overlay
With overlay
25,114
29,129
5.0% 12.5%
82.5%
2.4% 9.4%
88.2%
Q4 FY21
Stage 1
■
Q3 FY22 Stage 2
■
31,281
2.2% 8.5%
89.3%
Q4 FY22
Stage 3
■
Stage Wise ECL Provisions
1,655
1,161
1,094
77.9%
11.0% 1.6%
- ■
Q4 FY21
Stage 1
65.9%
8.2% 1.8%
Q3 FY22 Stage 2
■
65.3% 7.0% 1.6%
-
Q4 FY22
Stage 3
■
Impairment and losses/Gross Credit costs include additional wave 3 overlay of ₹ 76 Cr in Q3 FY22. The same has been reversed in Q4 FY22 Credit costs include impairment losses on other assets and net loss on derecognition of financial instruments under amortized cost category (₹ 61 Cr in Q4 FY21 and FY21, ₹ 2 Cr in FY22) Accelerated write offs of ₹ 226 Cr in Q3 FY22 and ₹ 79 Cr in Q4 FY22 with corresponding provision release of the same amount in respective quarters
18
Investing for Digital Transformation
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Customer acquisition
Building capabilities for future
Customer Servicing
Customer engagement
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(--------------------------------------- ' Instant card issuance for ETB (existing to SBIC) customers , ________________________________________ ,' ,--------------------------------------- -, Digital journey for NTB (new to SBIC) prospects
_______________________________________ ,' '
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✓ Faster issuance and activation ✓ Cost savings and efficiencies ✓ Issuance to ETB being scaled up ✓ Pilot for NTB completed, on track for
launch
______________________ ________________ .... ,
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Q1 FY23 ', _____________ /
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Bill payment on AskILA (Chatbot)
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Expand use cases for AskILA by leveraging conversational AI
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19
Our Sustainability Direction
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Our Purpose
Our Approach to ESG
Transform in a sustainable and inclusive business in the best interest of all stakeholders
▪
Embracing our responsibility to help address environmental, social and economic challenges
▪
ESG performance integration to delivery of our goals & strategy
Focusing on 16 priority areas to make a difference
ENVIRONMENTAL
E T
SOCIAL
GOVERNANCE CE
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Climate Change
Colleague Health & Safety
Business Ethics
Waste reduction & recycling
Inclusion & Diversity
Anti-Corruption & Bribery
Energy Consumption
Colleague Attraction & Retention
Risk Management and Compliance
Consumer Financial Protection
Responsible Digitalization
Employee Learning & Development
Employee Engagement & Welfare
Responsible Selling practices
Innovative Technologies and Products
Data Privacy & Security
~-------------------------------- ~-------------------------------- ~--------------------------------
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ESG Index Scores
Dow Jones Sustainability Index
37
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(Prev. Yr. – 11)
Sustainalytics 18.7
Low Risk
CRISIL
65
Scored higher than financial sector median
20
Creating Value with ESG
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3.1 Lac+ Trees Saved (From FY’18 to FY’22) Through paperless communication with customers
FY’18
FY’19
FY’20
FY’21
FY’22
29,381
39,664
55,434
69,747
119,718
Supported Material Recycling Facility (MRF) setup
One MRF of 10 megatonnes in in association with Greater Noida Authority and two MRFs of 2 megatonnes each with East Delhi Municipal Corporation.
Inclusion & Diversity
Colleague Attraction & Retention
Social
28% Women in total employees & 31% in senior leadership
Launched “AIM” Women Network providing a forum for SBI Card women employees with an access to knowledge, trainings and programs on career growth, financial literacy and physical and mental wellbeing.
Governance
Data Privacy Day 2022 Observed on 28 Jan & provided annual virtual training on Information & cyber security awareness.
Compliance Day 2022 Celebrated on 29 mar by spreading awareness on all aspects of Code of conduct to all employees
Flexible working shifts/ hours for employees
Great Place to Work survey-initiated organization wide.
Well-structured senior leadership connects every month across all location offices
Employee Engagement & Welfare
Financial Wellbeing webinar series for employees providing special sessions on tax saving strategies, planning for a secure future, Zero EMI & more.
Innovative Technologies & Digitization
✓ Integration of information from alternate data
sources like utility bills, etc for more efficient credit decisions
✓ Added security features on contact change process
on Digital Channels
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Serving Communities
Healthcare Supported:
✓ Phase 2 of our existing project with MAMTA Health Institute for Mother and Child to improve wellbeing and resilience among 75000 adolescents and young married women through community led approach as per GOI’s RMNCH+A (encompassing all interventions aimed at reproductive, maternal, newborn, child, and adolescent health) strategy.
✓ Provision of providing wheelchair cum scooter to
150 beneficiaries with locomotive disorder through Round Table India Trust.
Disaster Management Supported an initiative to provide home care to asymptomatic and mild symptomatic Covid patients through ‘Doctors For You’:
✓ Provision of 18,000 home kits to beneficiaries consisting of medicines, oximeter, thermal scanner/Digital Thermometer, N95 mask, sanitizer etc
✓ Cost of human resources (project, medical staff and call Centre executives) and transport support for the medical team to visit patients covered by SBI Card.
21
Shareholders Summary
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Shareholding pattern, 31st March 2022
Top 20 Shareholders as on 31st March 2022
Insurance 3.94%
Others 1.17%
Resident Individuals 4.66%
MF 8.02%
FPI 9.53%
Foreign Company 3.09%
Promoter Group SBI & Subs. 69.59%
(SBI – 69.20%)
S. No
Name of Shareholder
1
2 3
4
5
6
7
8
9
10 11
12 13
14
15
16 17 18
19
20
State Bank Of India
CA Rover Holdings
Life Insurance Corporation Of India
Life Insurance Corporation Of India - P&GS Fund
Government Pension Fund Global
RWC Emerging Markets Equity Master Fund Limited
Mirae Asset Large Cap Fund Vanguard Emerging Markets Stock Index Fund, A Series Of Vanguard International Equity Index Funds
Vanguard Total International Stock Index Fund
SBI Life Insurance Co. Ltd.
ICICI Prudential Long Term Equity Fund Tax Savings
Nippon Life India Trustee Ltd-A/C Nippon India Large Cap Fund
Robeco Capital Growth Funds
Nippon Life India Trustee Ltd-A/C Nippon India Multi Cap Fund
HDFC Trustee Company Limited-HDFC Flexi Cap Fund
Societe Generale – ODI Motilal Oswal Flexi Cap Fund
RWC Funds - RWC Global Emerging Markets Fund
ICICI Prudential Life Insurance Company Limited
Mirae Asset Emerging Bluechip Fund
%
69.20
3.09
1.74
1.69
0.70
0.58
0.44
0.43
0.39
0.39
0.38
0.37
0.37
0.33
0.33
0.31 0.29
0.28
0.28
0.27
22
Annexures
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P&L Summary
P&L
Interest Income Fees and commission income Service Charges Business development incentive income Insurance commission income Net gain on fair value changes Total Revenue from operations Total Other Income Total Income/Revenue
Finance costs Fees and commission expense Net loss on derecognition of financial instruments under amortized cost category Impairment losses & bad debts Employee benefits & Expenses Depreciation, amortisation & impairment Operating & Other expenses
Total expenses Profit before tax Profit after tax
Q4 FY21 1,082 1,114 35 85 2 0 2,319 149 2,468 244 179
Q3 FY22 1,273 1,457 37 121 1 - 2,889 250 3,140 277 311
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643 126
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946 2,234 234 175
-
625 121
37
1,250 2,621 519 386
... ..... ..... .. ..... Q4 FY22 1,266 1,427 35 121 1 - 2,850 166 3,016 267 302
-
393 121
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1,115 2,237 779 581
YoY 17% 28% 1% 42% -54% - 23% 11% 22% 10% 10%
*n.c.
-39% -4%
15%
18% 0% 232% 231%
4,947 3,908 134 299 8 1 9,296 417 9,714 1,043 607
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3,425 8,390 1,324 985
FY21
. ............... ···•. FY22
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YoY -2% 34% -1% 50% -41% - 15% 50% 16% -2% -2%
4,866 5,227 132 448 5 - 10,677 624 11,302 1,027 1,023
2
*n.c.
2,256 473
149
4,201 9,129 2,172 1,616
-15% -4%
21%
23% 9% 64% 64%
* n.c. denotes not comparable
24
Balance Sheet Summary
Figures in ₹ Cr
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Balance Sheet Assets Loans (Net) Cash & Bank Balances Investments Other Financial Assets Total Financial Assets PP&E, Intangible & Right of use assets Deferred Tax Assets All other non-financial Assets Total non-financial Assets Total Assets
Liabilities and equity
Equity Share Capital Other Equity Total Equity Borrowings All other financial liabilities Total financial liabilities Provisions Other non-financial liabilities Total non-financial liabilities Total liabilities and equity
Mar’21
Mar’22
Variance%
23,459 720 958 276 25,413 318 395 886 1,600 27,013
941 5,362 6,302 17,895 1,769 19,664 410 638 1,047 27,013
30,187 1,106 1,297 382 32,973 454 219 1,004 1,676 34,648
943 6,810 7,753 22,982 2,700 25,683 477 736 1,213 34,648
29% 54% 35% 38% 30% 43% -45% 13% 5% 28%
0% 27% 23% 28% 53% 31% 17% 15% 16% 28%
25
Recent Developments
Launch of Nature’s Basket SBI Card
SBI Card has partnered with ‘Nature’s Basket’, India’s leading premium grocery store brand - to launch ‘Nature’s Basket SBI Card’.
The first-of-its-kind credit card will address the consumers’ unique lifestyle related spend needs, including grocery and gourmet.
Nature’s Basket SBI Card will be available to customers by 22nd April 2022
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Launch Date: 22 Mar ’22
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SBI Card Pulse Digital Campaign
SBI Card Pulse Awareness and Performance Campaign - amplified through Influencer posts and video ads
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Co-marketing film with VISA
AURUM Digital Campaign
Launched the film with the objective to educate customers on Card Controls. This was promoted on Digital & Social Media platforms.
Duration : 1 month : 24 Mar ‘22 onwards
Initiated Lead Generation campaign for AURUM Card through LinkedIn, MoneyControl & other premium platforms
26
Product Brief
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Super Premium
Core Cards
Co-Brand Cards
Banking
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27
Glossary
Term
Description
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New Accounts
Sum of all accounts opened in a reporting period.
Card-in-force
Spends
Receivables
Sum of all credit cards issued by us, including suspended credit cards that may be reactivated in future, net of cancelled and deactivated credit cards.
Total card spends constitutes the aggregate notional amounts transacted by our cardholders in a reporting period. Total credit card receivables outstanding from our cardholders at end of the reporting period.
Market share – CIF
Market share of total cards outstanding is calculated by dividing our total cards outstanding by the industry-wide total cards outstanding, as obtained from data published by the RBI.
Market share – Spends
Market share of total card spends is calculated by dividing our total card spends by the industry-wide total card spends, as published by the RBI, for the reporting period.
Averages
2-point average for quarter and 5-point for yearly calculations
Spends per card
Average card spends per cards outstanding is calculated by dividing our total card spends by the average total cards outstanding for the period (annualized)
Average loans per cards
Average loans per cards outstanding is calculated as total loans at the end of the reporting period divided by total cards at the end of the reporting period.
Yield %
COF %
Calculated as interest income from cardholders divided by average receivables for the period (annualized)
Calculated as total finance costs for the period divided by average borrowings (including lease liabilities) for the period (annualized)
Cost to Income %
We calculate our cost to income ratio as operating and other expenses divided by total income after subtracting Finance cost.
ROAA
ROAE
EPS
Calculated as net profit divided by average total assets for the period (annualized)
Calculated as net profit divided by the average shareholders’ equity for the period (annualized)
Earning per share is for the period and not annualized
Shareholders’ equity
Shareholders’ equity is defined as sum of share capital, reserves and surplus excluding reserves created out of amalgamation
28
Disclaimer
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The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or purchase any securities of SBI Cards and Payment Services Limited in India or in any other jurisdiction. This presentation is not intended to be a prospectus or an offer document under any applicable law.
This presentation may contain certain forward looking statements which have purely been made basis Management’s expectations, assumptions and estimates, known or unknown risks. Such statement typically contain the terms / phrases (including but not limited to) “will”, “believe”, “aim”, “may”, “would”, “expect”, “would /may result”, “goal”, “strategy”, “anticipate”, “intend”, “seek”, “plan”, “objective”, “contemplate”, “project”, “anticipate”, etc., These statements are neither factual nor based nor do they constitute any historical information about the Company and are subject to change / uncertainties in future. The actual financial or other results may materially differ from such statements and the investors are advised not to make any decisions merely on these. The Management is further not expected to update these in future as and when there is a change impacting such estimates / possibilities.
The recipients should carry their own due diligence in respect of the information contained in the presentation.
This presentation is strictly confidential and is intended only for the exclusive use of the recipients thereof, subject to the provision state herein, and may not be disclosed, reproduced, retransmitted, summarized, distributed or furnished, in whole or in part, to any other person.
This presentation should not form basis or be relied upon in any connection with any contract or commitment whatsoever.
Figures for previous period/year have been regrouped or recategorized wherever necessary to conform to the current period’s/year’s presentation. Totals in some columns/rows/graphs may not agree due to rounding-offs.
29
Thank You
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30