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SBI Card and Payment Services Q4 profit slips 66% YoY to Rs 83.5 crore

Gross non-performing assets (GNPA) improved by 43bps to 2.01 per cent, the company said.

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The company has also declared interim dividend of Re 1 per equity share (10 per cent) of the face value of Rs 10 per equity share for the financial year 2019-20.

SI Reporter New Delhi
SBI Card and Payment Services posted on Friday a 66 per cent decline in its net profit at Rs 83.5 crore for the quarter ended March 2020 (Q4FY20). It had posted profit of Rs 248.7 crore in the year-ago quarter. 

"The Covid-19 global pandemic has given rise to unprecedented challenges in the economic situation. The Government of India mandated a nation-wide “Lockdown” from March 25, 2020. To ease the financial burden, the RBI allowed institutions to extend a payment moratorium from March 01, 2020 to May 31, 2020 for its customers. SBI Card has also complied with RBI guidelines on the same,"

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