Brokerages share mixed views on SBI Cards and Payment Services

While cost of funds and credit costs are seen rising, growth in business is estimated to be good

The only listed credit card outfit, SBI Cards and Payment Services (SBI Cards), delivered mildly encouraging results with some points of concern in the January-March quarter of the 2022-23 financial year (Q4FY23).

The profit after tax (PAT) was up 3 per cent year-on-year (YoY) (17 per cent quarter-on-quarter or QoQ) to Rs 600 crore. There was a rise in non-interest income by 32 per cent YoY (10 per cent QoQ) to Rs 2,090 crore due to 25 per cent YoY rise in fee income (85 per cent of total) and 113 per cent rise in business development income (12 per