SBI Cards appoints Salila Pande as MD & CEO from April 1 2025

SBI Cards and Payment Services said that its board has appointed Salila Pande as the managing director (MD) & CEO with effect from 1 April 2025.

The appointment of Pande, who has been nominated by the State Bank of India, will be for a period of two years, the company stated.

The board has approved the appointment of Pande pursuant to the superannuation of Abhijit Chakravorty from the services of the State Bank of India from March 31, 2025, it said.

Pande is the chief general manager at the State Bank of India. She is a career banker and had joined the SBI in 1995 as a probationary officer and has been with the country's largest banking group since then.

In addition, SBI Cards has declared an interim dividend of Rs 2.50 per share for the financial year 2024-25. The record date for dividend eligibility is 25 February 2025, and payments will be processed by 18 March 2025.

SBI Cards and Payment Services (SBI Card) is a non-banking financial company that offers an extensive credit card portfolio to individual cardholders and corporate clients, which includes lifestyle, rewards, travel & fuel, and banking partnerships cards, along with corporate cards covering all major cardholders' segments in terms of income profile and lifestyle.

The company reported standalone net profit of Rs 404.42 crore in Q2 FY25 as against Rs 602.98 crore posted in Q2 FY24. Total revenue from operations stood at Rs 4,421.04 crore in the second quarter of FY25, up 8.16% year on year.

Shares of SBI Cards and Payment Services shed 0.13% to Rs 852.60 on the BSE.

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