SBI Cards and Payment Services Limited
4,565words
3turns
0analyst exchanges
0executives
Key numbers — 40 extracted
rs,
18%
6%
₹ 262,501
₹ 308,779
10%
₹ 50,846
₹ 55,840
7%
₹ 17,484
₹ 18,637
14%
Guidance — 14 items
Registered Office
opening
“8% YOY 6% QOQ ..\ 10.29 9.04 9.04 11.75 11.09 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 ·• .................................................................................................................................................................................................................”
Registered Office
opening
“O SBI Card Cards-in-force (Cr) Receivables (₹ Cr) 10% YOY 3% QOQ 2.02 2.08 50,846 1.89 10% YOY 2% QOQ 54,773 55,840 Retail Spends (₹ Cr) 69,189 71,880 76,398 80,792 79,709 15% YOY 1% QOQ Q3 FY25 ~-.......................................................................................................”
Registered Office
opening
“·• Q4 FY25 Q4 FY24 Q3 FY25 •• •...............................................................................................................”
Key Insights
opening
“•·· Q1 FY25 Q2 FY25 Q4 FY24 Q3 FY25 Q4 FY25 Corporate Spends (₹ Cr) 10,464 ▪ New accounts sourcing steady at ~1 Mn+ level 17% YOY 63% QOQ ▪ Retail spends stable ~ 80,000 Cr o,..._____ 5,249 5,495 5,301 ------------1.~.,__----o~------0-0-----~ 8,656 ~ ••• ...............................................................................................................................................................................................................”
Key Insights
opening
“Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Receivables(₹ Cr)/Mix % 52,705 55,601 50,846 ,-----, 62% 54,773 55,840 Interest Earning Receivables ,-----, , - - - - - \ 60% 59% I - - -.....”
Key Insights
opening
“I I r - - - - - - , I I I I I I I \ I I I I I I I I \ I I I I I I I \ 36% 23% 24% 37% 24% 37% 35% 38% 24% 24% 39% 38% 40% 40% 41% Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 ■ : ·• ......................................................................................................................................................................................”
Key Insights
opening
“18K • • Over 4X growth in UPI spends – Q4 FY25 vs Q4 FY24 Top 5 Categories for UPI Spends : Departmental Stores & Grocery | Utilities | Fuel | Apparel | Restaurant 9 *Active UPI users on Rupay Card Base of Mar’25 Financial Update OSBI Card 10 Key Financials Revenue from operations ....”
Key Insights
opening
“J Q4 FY24 Q3 FY25 Q4 FY25 Q2 FY25 Q1 FY25 Interest Cost 724 767 788 829 795 10% YOY 4% QOQ Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Operating Cost / ··········· : ············ : ··········· : ············:··········.”
Key Insights
opening
“- ·······1 8% YOY 1,918 1,816 2,011 2,107 2,073 2% QOQ Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 •• •.................................................................................................................................................................................................................• -· Credit Cost ,..-·········································· .....”
Key Insights
opening
“944 6----~----o---------~ T 1,212 1,313 1,245 1,101 Q4 FY24 Q1 FY25 : Q2 FY25 Q3 FY25 Q4 FY25 32% YOY 5% QOQ ···· ..”
Risks & concerns — 2 flagged
League • Completed comprehensive review of Risk further Management strengthening resilience, embedding sustainability, and reflecting regulatory and emerging risk trends.
— Key Insights
Framework risk • Digital Transformation enhancing Customer Experience & Efficiency ✓ Revamped key journeys (KYC renewal, address/contact updates) ✓ Improved STP on Sprint for faster digital applications • Initiated Anti Money Laundering Awareness to assess effectiveness of AML Survey awareness programs amongst employees.
— Key Insights
Speaking time
2
1
Opening remarks
Registered Office
Unit 401 & 402, 4th. Floor, Aggarwal Millennium Tower, DLF Cyber City, Gurugram - 122002, Haryana, India Website, sbicard.com E 1,2,3, Netaji Subhash Place, Wazirpur, New Delhi - 110034 CIN - L65999DL 1998PLC093849 4 2 W 5 0 7 0 I S INVESTOR PRESENTATION Q4 – FY 2024-25 OSBI Card 1 INDEX 1 2 3 4 5 6 7 8 Key Highlights Portfolio Growth Financial Update Asset Quality Borrowings & Capital Adequacy ESG Shareholders Summary Annexures O SBI Card 2 Key Highlights OSBI Card 3 FY25 at a glance O SBI Card Touched 2 Cr Milestone in Cards in FY25, Retail Spends increase by 18% YoY Business Volumes New Accounts - 6% 4,364K → 4,092K FY24 FY25 Retail Spends + 18% ₹ 262,501 Cr → ₹ 308,779 Cr FY24 FY25 Receivables + 10% ₹ 50,846 Cr → ₹ 55,840 Cr Mar 24 Mar 25 Income/ Profits Asset Quality Total Income + 7% ₹ 17,484 Cr → ₹ 18,637 Cr FY24 FY25 EBCC + 14% ₹ 6,519 Cr → ₹ 7,452 Cr FY24 FY25 PAT - 20% ₹ 2,408 Cr → ₹ 1,916 Cr FY24 FY25 GCL % + 189 bps 7.1 % → 9.0% FY24 FY25 GNPA % + 31 bps 2.76 % → 3.08% Mar
Key Insights
··-............................................................................................................................................................................................................... •·· Q1 FY25 Q2 FY25 Q4 FY24 Q3 FY25 Q4 FY25 Corporate Spends (₹ Cr) 10,464 ▪ New accounts sourcing steady at ~1 Mn+ level 17% YOY 63% QOQ ▪ Retail spends stable ~ 80,000 Cr o,..._____ 5,249 5,495 5,301 ------------1.~.,__----o~------0-0-----~ 8,656 ~ ••• ............................................................................................................................................................................................................... •···· Q2 FY25 Q3 FY25 Q4 FY25 Q4 FY24 Q1 FY25 ▪ Corporate spends increase to ~8600+ Cr, 60%+ QoQ ▪ Receivables increase 10% YoY, 2% QoQ, IBNEA @ ~59% 7 Portfolio Growth O SBI Card Spend per Card (₹ ‘000) Receivable per Card (₹) 26,918 27,395 28,387 27,052 26,816 171 148 162 151 169 158 173 162 172 155 T T Q4 FY24 Q1 FY25 Q2
Key Insights
▪ NIM improves to 11%+ aided by better yield & COF in Q4 ▪ Opex lower being a non-festive quarter ▪ Credit Costs decline to @ 9.0% vs 9.4% in previous quarter 11 P&L Summary Q4 FY25 Q3 FY25 QoQ Total Income -Revenue from Operations -Interest Income -Fees & Other Revenue -Other Income Interest Cost Operating Cost Earning Before Credit Cost Impairment on Financial Instruments PBT PAT Key Metrics 4,832 4,674 2,415 2,259 158 795 2,073 1,964 4,767 4,619 2,399 2,220 148 829 2,107 1,831 1,245 1,313 719 534 518 383 1% 1% 1% 2% 7% -4% -2% 7% -5% 39% 39% YoY 8% 8% 13% 2% 25% 10% 8% 7% 32% -19% -19% Yield COF* NIM* Cost to Income Credit Cost ROA 17.0% 16.5% 48 bps 29 bps 7.2% 11.2% 51.4% 9.0% 3.4% 7.4% -18 bps -15 bps 10.6% 54 bps 29 bps 53.5% -216 bps 21 bps 9.4% 2.4% -42 bps 143 bps 91 bps -132 bps *Adjusted for lease modification entries, COF @ 7.3%, NIM @ 11.1% for Q4 FY25 FY25 18,637 18,072 9,347 8,725 565 3,178 8,007 7,452 4,872 2,581 1,916 16.7% 7.4% 10.8% 51.8% 9.0% 3.1% YoY 7% 7% 18% -3%