Business Standard

SBI Cards net profit rises 84% to Rs 386 crore in December quarter

Its interest income rose by 9 per cent year-on-year to Rs 1,273 crore

SBI
Premium

Subrata Panda Mumbai
A robust increase in fee income and lower provisions helped SBI Cards and Payments Services report an 84 per cent increase in net profit to Rs 386 crore in the October–December quarter (Q3FY22). Its net profit was Rs 210 crore in the year-ago period.

Its interest income rose by 9 per cent year–on–year (YoY) to Rs 1,273 crore and fee income was up 31 per cent YoY to Rs 1,616 crore, resulting in revenue rising 24 per cent YoY to Rs 3,140 crore.

Provisions for bad loans fell 43 per cent YoY to Rs 1,161 crore in the reporting quarter, which includes

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 24 2022 | 11:25 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com