SBICARDNSEQ1 FY26July 25, 2025

SBI Cards and Payment Services Limited

3,835words
2turns
0analyst exchanges
0executives
Key numbers — 40 extracted
rs,
July 25, 2025 The BSE Limited Corporate Relationship Department Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001 The National Stock Exchange of India Limited Exchange Plaza, C-1
3%
r Q1 FY26 Continued growth in spends and receivables, Profit increases QoQ New A/cs 8.73 lacs  3% YoY  21%QoQ CIF 2.12 Cr  10% YoY  2% QoQ Spends ₹ 93,244 Cr  21% YoY  6% QoQ Receivabl
21%
Continued growth in spends and receivables, Profit increases QoQ New A/cs 8.73 lacs  3% YoY  21%QoQ CIF 2.12 Cr  10% YoY  2% QoQ Spends ₹ 93,244 Cr  21% YoY  6% QoQ Receivables ₹ 56,60
10%
ends and receivables, Profit increases QoQ New A/cs 8.73 lacs  3% YoY  21%QoQ CIF 2.12 Cr  10% YoY  2% QoQ Spends ₹ 93,244 Cr  21% YoY  6% QoQ Receivables ₹ 56,607 Cr  7% YoY  1% Qo
2%
ceivables, Profit increases QoQ New A/cs 8.73 lacs  3% YoY  21%QoQ CIF 2.12 Cr  10% YoY  2% QoQ Spends ₹ 93,244 Cr  21% YoY  6% QoQ Receivables ₹ 56,607 Cr  7% YoY  1% QoQ PAT ₹
₹ 93,244
t increases QoQ New A/cs 8.73 lacs  3% YoY  21%QoQ CIF 2.12 Cr  10% YoY  2% QoQ Spends ₹ 93,244 Cr  21% YoY  6% QoQ Receivables ₹ 56,607 Cr  7% YoY  1% QoQ PAT ₹ 556 Cr  6%YoY  4%
6%
8.73 lacs  3% YoY  21%QoQ CIF 2.12 Cr  10% YoY  2% QoQ Spends ₹ 93,244 Cr  21% YoY  6% QoQ Receivables ₹ 56,607 Cr  7% YoY  1% QoQ PAT ₹ 556 Cr  6%YoY  4% QoQ Cost to Inco
₹ 56,607
 21%QoQ CIF 2.12 Cr  10% YoY  2% QoQ Spends ₹ 93,244 Cr  21% YoY  6% QoQ Receivables ₹ 56,607 Cr  7% YoY  1% QoQ PAT ₹ 556 Cr  6%YoY  4% QoQ Cost to Income 50.3%  140 bps YoY
7%
F 2.12 Cr  10% YoY  2% QoQ Spends ₹ 93,244 Cr  21% YoY  6% QoQ Receivables ₹ 56,607 Cr  7% YoY  1% QoQ PAT ₹ 556 Cr  6%YoY  4% QoQ Cost to Income 50.3%  140 bps YoY  108 b
1%
 10% YoY  2% QoQ Spends ₹ 93,244 Cr  21% YoY  6% QoQ Receivables ₹ 56,607 Cr  7% YoY  1% QoQ PAT ₹ 556 Cr  6%YoY  4% QoQ Cost to Income 50.3%  140 bps YoY  108 bps QoQ ROA
₹ 556
2% QoQ Spends ₹ 93,244 Cr  21% YoY  6% QoQ Receivables ₹ 56,607 Cr  7% YoY  1% QoQ PAT ₹ 556 Cr  6%YoY  4% QoQ Cost to Income 50.3%  140 bps YoY  108 bps QoQ ROAA 3.4%  67 bps
4%
44 Cr  21% YoY  6% QoQ Receivables ₹ 56,607 Cr  7% YoY  1% QoQ PAT ₹ 556 Cr  6%YoY  4% QoQ Cost to Income 50.3%  140 bps YoY  108 bps QoQ ROAA 3.4%  67 bps YoY  4 bps QoQ
Guidance — 1 items
Key Insights
opening
“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 do they constitute any historical information about the Company and are subject to change / uncertainties in future.”
Risks & concerns — 4 flagged
Digital Innovation for Responsible Customer Experience • Instant notifications enablement on WhatsApp for customers to enable inactive transaction switches upon card decline, giving customers real-time control.
— Key Insights
Surendra Kumar on International Yoga Day in corporate office, broadcasted across locations, promoting employee health and mental well-being through mindfulness and stress relief.
— Key Insights
Enhanced Risk Governance Framework • The Expected Credit Loss (ECL) model has been reviewed and upgraded, aligning with Ind AS guidelines.
— Key Insights
The revised provisioning model has undergone external auditor review and received Board-level approval, strengthening the organization’s credit risk management and compliance framework.
— Key Insights
Speaking time
Key Insights
2
Opening remarks
Key Insights
5,249 5,495 5,301 107% YOY 25% QOQ 8,656 10,840 ▪ ▪ Retail spends continue to grow, Corporate spends see a path of recovery Receivables increase 7% YoY & IBNEA% at ~60% Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 6 Portfolio Growth Spend per Card (₹ ‘000) Receivable per Card (₹) 162 151 169 158 173 162 172 177 155 157 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Ret+Corp Ret 30-day Retail spend active rate % 50% 52% 52% 51% 52% 27,395 28,387 27,052 26,816 26,710 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Receivables(₹ Cr)/Mix % 52,705 55,601 54,773 56,607 55,840 Interest Earning Receivables 62% 38% 24% 38% 37% 23% 40% 36% 24% 40% 59% 35% 24% 41% 60% 36% 24% 40% Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Transactor Revolver EMI 7 Retail Spends Insights Online Spend % 60.7% 58.9% 57.9% 56.9% 54.4% Spends Categories Retail Spends % Growth^ POS Spends Online Spends Category 1 Departmental Stores, Health, Utilities, Rental, Education & Direct Marketing Category 2 Co
Key Insights
Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Credit Cost Credit Cost 1,101 GWO 969 Provision 132 1,212 1,106 107 1,313 1,354 1,245 1,303 (41) (59) 23% YOY 9% QOQ 1,352 1,280 72 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 ▪ ▪ Revenue grows 4% QoQ, increase driven by both interest income and fees COF improves to 7.1% vs 7.3%* vs last quarter, NIM improves to 11.2% vs 11.1%* during the same period ▪ Write offs decline by ₹ 24Cr ▪ Overall credit Costs increases to 9.6% due to higher provisioning *Q4 FY25- Reported COF @ 7.2%, NIM @ 11.2% (Excluding benefit from one-off lease modification, COF @ 7.3%, NIM @ 11.1%) 10 P&L Summary 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 Yield COF* NIM* Cost to Income Credit Cost ROA Q1 FY26 Q4 FY25 QoQ 5,035 4,877 2,493 2,384 158 813 2,123 2,100 1,352 748 556 17.0% 7.1% 11.2% 50.3% 9.6% 3.4% 4,832 4,674 2,41
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