SBI Card Q3 PAT up 45%; balance sheet size rises to ₹67,365 crore
While total spends grew by 33% at Rs 1,14,702 crore, receivables grew by 4% to Rs 57,213 crore in Q3 FY26 over Q3 FY25.
 "SBI Card Q3 PAT up 45%; balance sheet size rises to ₹67,365 crore")
SBI Cards and Payment Services has reported 45% jump in net profit to Rs 557 crore on a 12% increase in total income to Rs 5,353 crore in Q3 FY26 as compared with Q3 FY25.
While total spends grew by 33% at Rs 1,14,702 crore, receivables grew by 4% to Rs 57,213 crore in Q3 FY26 over Q3 FY25.
Cards-in-force grew by 8% to 2.18 crore as of Q3 FY26 as against 2.02 crore as of Q3 FY25. New accounts volume stood at 864K in Q3 FY26 as compared to 1,175K in Q3 FY25.
Operating expenses rose by 23% to Rs 2,597 crore in the December 2025 quarter from Rs 2,107 crore in the December 2024 quarter.
Accordingly, the company registered an operating profit of Rs 1,971 crore in Q3 FY26, up 8% YoY.
Impairment charge on financial instruments was Rs 1,222 crore in Q3 FY26, lower by declined by 7% as compared with the charge of Rs 1,313 crore recorded in Q3 FY25.
Profit before tax in Q3 FY26 stood at Rs 749 crore, up by 45% from Rs 518 crore in Q3 FY25.
The gross non-performing assets were at 2.86% of gross advances as of 31 December 2025, as against 3.24% as of 31 December 2024.
Net non-performing assets were at 1.28% as of 31 December 2025, as against 1.18% as of 31 December 2024.
The companys total balance sheet size as of 31 December 2025 was at Rs 67,365 crore as against Rs 65,546 crore as of 31 March 2025. Total advances (net of provisions) as of 31 December 2025, at Rs 55,224 crore.
As per the capital adequacy norms issued by the RBI, Company's capital to risk ratio consisting of Tier I and Tier II capital should not be less than 15% of its aggregate risk weighted assets on balance sheet and of risk adjusted value of off-balance sheet items. As of 31 December 2025, the company's CRAR was 24.4% compared to 22.9% as of 31 December 2024.
The Tier I capital in respect of an NBFC-ND-SI, at any point of time, can't be less than 10%. The company's Tier I capital was 19.1% as of 31 December 2025, compared to 17.0% as of 31 December 2024.
SBI Cards and Payment Services is a non-banking financial company that offers 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 has a wide base of over 21 MM+ cards in force as of 31 December 2025.
The scrip fell 1.79% to currently trade at Rs 768.25 on the BSE.
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