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SBI Cards and Payment Services
SBI Cards and Payment Services (SBICARD) investor relations material
SBI Cards and Payment Services Q3 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 25/26 earnings summary28 Jan, 2026
Executive summary
India’s GDP is valued at $4.18 trillion and projected to reach $7.3 trillion by 2030, supporting robust domestic demand and credit card industry growth.
Achieved robust profitability in Q3 FY26, driven by strong growth in spends and improved credit cost management.
Net new accounts grew 26% YoY and 8% sequentially, with cards-in-force up 8% YoY.
Unaudited financial results for the quarter and nine months ended December 31, 2025, were approved and reviewed by the Board and statutory auditors.
The company is classified as a Middle Layer NBFC under RBI's Scale Based Regulations.
Financial highlights
Revenue from operations grew 11% YoY to ₹5,127 crore, with PAT up 45% YoY to ₹557 crore, driven by higher spend-based income and improved credit costs.
Retail spends reached ₹91,962 crore, up 14% YoY; online spends contributed 62.1% of total retail spends for the nine months.
Receivables stood at ₹57,213 crore, up nearly 4% YoY.
Operating cost increased 23% YoY, mainly due to higher spend-based costs.
Earnings per share (basic and diluted) for the quarter were ₹5.85, up from ₹4.67 in the same quarter last year.
Outlook and guidance
Targeting acquisition of 900,000 to 1 million new accounts per quarter, focusing on quality and premium segments.
Growth will be sustainable and calibrated, prioritizing profitability and asset quality over aggressive expansion.
No specific asset growth guidance for FY 2026/27; previous 10-12% guidance withdrawn due to portfolio mix changes.
Management expects continued business growth and has made additional impairment provisions to reduce volatility in future impairment costs.
Cost to income ratio expected to remain in the 55-57% range for FY 2026.
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Next SBI Cards and Payment Services earnings date
Q4 25/2623 Apr, 2026
SBI Cards and Payment Services
Next SBI Cards and Payment Services earnings date
Q4 25/2623 Apr, 2026
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Frequently asked questions
SBI Cards And Payment Services Limited issues credit cards to individual and corporate customers in India. The company also issues debit cards for use on the MasterCard, Visa, and Maestro platforms. In addition, it provides merchant acquiring by signing merchants to accept such cards at point of sale terminals; and travel services comprising booking tickets for air travel, railway tickets, hotels, and foreign exchange, as well as offers various lifestyle products consisting of health insurance services, gift vouchers of various leading brands. The company offers its products directly through its employees, as well as through banks' distribution channels. The company was incorporated in 1998 and is headquartered in Gurugram, India.
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