SBI Cards slides after MD & CEO Abhijit Chakravorty resigns

SBI Cards and Payment Services fell 1.01% to Rs 873.25 after Abhijit Chakravorty has tendered his resignation from the position of managing director (MD) & chief executive officer (CEO) of the company, effective from 31 March 2025.

Following his retirement from the company, he will also cease to be the MD & CEO of the State Bank of India from that date, the company added.

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. This includes lifestyle, rewards, travel & fuel, and banking partnership cards, along with corporate cards that cover all major cardholder segments in terms of income profiles and lifestyles.

 

The company reported a standalone net profit of Rs 383.23 crore in Q3 FY25, down 30.2% compared to Rs 549.08 crore posted in Q3 FY24. Total revenue from operations rose marginally by 0.5% to Rs 4,766.56 crore in Q3 FY25, compared with Rs 4,741.60 crore in Q3 FY24.

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