Page 3 - Sbi Card

SBI Card introduces inaugural travel-centric core credit card 'MILES'

The card promises comprehensive travel benefits, including the conversion of Travel Credits to Air Miles and Hotel Points, enhanced rewards on all travel bookings, and access to airport lounges

SBI, Bajaj Auto among 25 stocks eligible for same-day settlement, says BSE

The new T+0 settlement cycle reduces transactional risks and enhances market efficiency by providing immediate liquidity to investors, said analysts at ICICI Direct

Exclusive Brand Partnerships: Raise the Game with AURUM Card

AURUM joins forces with premium brands across categories, ensuring privileges to those who value refined lifestyle and exclusivity.

Analysts downgrade SBI Card as poor asset quality, rising costs bite in Q3

SBI Card share price: Shares of the credit card arm of State Bank of India (SBI) tanked 6.5 per cent to Rs 710.5 per share on the BSE in Monday's intraday trade

SBI Card Q3 profit rises 8% to Rs 549 cr, total income grows to Rs 4,742

SBI Cards and Payment Services Ltd has reported an 8 per cent rise in net profit to Rs 549 crore for the third quarter ended December 2023. The pure-play credit card company, promoted by SBI, had posted a net profit of Rs 509 crore during the corresponding period of the previous financial year. Total income grew to Rs 4,742 crore during the October-December period from Rs 3,656 crore in the year-ago period, SBI Card said in a regulatory filing. Total operating cost increased by 23 per cent at Rs 2,426 crore for the third quarter of FY24 from Rs 1,974 crore in the previous fiscal, it said. Gross non-performing assets (NPA) rose to 2.64 per cent during the quarter under review as against 2.22 per cent a year ago. Net NPA too increased to 0.96 per cent from 0.80 per cent at the end of the December quarter of the previous financial year. As a result, impairment losses and bad debt expenses grew to Rs 883 crore from Rs 533 crore in FY23. As of December 31, 2023, the card company's c

SBI Card Q3FY24 results: PAT rises 8% to Rs 549 cr, revenue up 30%

The company's revenue increased 30% Y-oY to Rs 4,742 crore in Q3FY24 from Rs 3,656 crore in Q3FY23

Stocks to Watch: L&T, Bharti Airtel, SBI Card, Dixon, Cipla, Bajaj Finance

Stocks to watch on November 20, 2023: SBI Card said that its capital adequacy ratio is expected to decline by 4 per cent due to the RBI's latest move on tightening consumer loan norms

RBI rule on unsecured loans to hit lenders' capital, loan growth: Analysts

Shares of RBL Bank slipped 9 per cent to Rs 230.555, while those of SBI Cards and Payment Services plunged 7 per cent to Rs 720.40 in intraday trade

Analysts slash SBI Card's earnings estimates post Q2 result; shares tank 7%

SBI Card Q2 result: Analysts at Motilal Oswal Financial Services slashed SBI Card earnings by 8 per cent/10 per cent for FY24/FY25 as they expect the company to face margin pressure

SBI Card Q2 results: Net profit grows 15% to Rs 603 cr on higher income

SBI Cards and Payment Services Ltd (SBI Card) on Friday reported a 15 per cent rise in net profit at Rs 603 crore for the quarter ended September on higher income. The pure-play credit card company, promoted by the country's largest lender State Bank of India (SBI), had reported a net profit of Rs 526 crore in the previous quarter a year earlier. The total income in the second quarter of the current fiscal rose 22 per cent to Rs 4,221 crore, from Rs 3,453 crore a year ago, SBI Card said in a regulatory filing. The interest income grew 28 per cent to Rs 1,902 crore, while income from other sources jumped 21 per cent to Rs 2,186 crore. There was slight deterioration in the company's asset quality with the gross non-performing assets rising to 2.43 per cent of the gross advances as of September, from 2.14 per cent a year earlier. Net NPAs (bad loans) also rose to 0.89 per cent from 0.78 per cent in the corresponding quarter of last year. On capital adequacy, the company said the rat

Markets snap 6-day losing run; Sensex jumps 635 pts, Nifty nears 19,050

Closing Bell on October 27, 2023: Among sectors, the Nifty PSU Bank index jumped 4 per cent today

SBI Card unveils additional features on its super-premium card 'AURUM'

The card also offers 1-year Club Mariott membership as a welcome gift

MobiKwik gets ex-Sebi ED, former SBI Card CEO Prasad in advisory board

Fintech firm MobiKwik has onboarded former Sebi Executive Director and Irdai member Radhakrishnan Nair and ex-MD and CEO of SBI Card Hardayal Prasad to its newly created advisory board. The company has set up an advisory board to help it enhance understanding of regulations, compliance, and industry dynamics, further strengthening its position in the BFSI and fintech sectors. "With a combined experience of eight decades across various financial domains such as banking, securities, insurance, investments, credit cards, payment services, and IPOs, Radhakrishnan Nair and Hardayal Prasad bring unique perspectives that are expected to drive innovation and propel MobiKwik towards even greater growth and success," MobiKwik said in a statement. Nair has over 40 years of experience in banking, securities, and insurance industries. He is serving as an independent director in several other companies, including ICICI Bank and its subsidiaries. Prasad has nearly 40 years of global experience in

SBI Card plans to raise Rs 3,000 cr from debentures to fund business growth

SBI Card on Tuesday said it plans to raise up to Rs 3,000 crore by issuing debentures to fund business growth. The decision to consider and approve the proposal for raising funds through the issuance of non-convertible debentures (NCDs) aggregating to Rs 3,000 crore would be taken in June 5 board meeting, SBI Card said in a regulatory filing. This fundraising would be done through private placement in one or more tranches over a period of time, it added.

Paytm partners with SBI Card, NPCI to launch co-branded RuPay credit cards

Payments and financial services company Paytm on Thursday announced that it has partnered with SBI Card to launch Paytm SBI Card on the RuPay network. The Paytm and SBI Card partnership, which began in 2020, is now expanding with the addition of National Payments Corporation of India's RuPay, as all three home-grown brands join forces to further drive the growth of inclusive, digital-first financial services in the country. Paytm founder and CEO Vijay Shekhar Sharma told reporters that India is at the cusp of the next payments revolution where credit will become the mainstream payment choice. "Together with SBI Card, Paytm RuPay credit card will be a great choice for consumers. Our users are already savvy on QR code-based payments and with RuPay credit cards working on UPI QR codes, transactions through mobile phones will get a further boost, marking a new era in digital payments," he added. Cardholders of either variant will be entitled to 2 per cent cashback on all Paytm ecosyste

Paytm partners with SBI Card and NPCI to launch Paytm SBI Card on RuPay

Earlier this year, the Reserve Bank of India allowed users to link RuPay credit cards to the United Payments Interface

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

Stocks to Watch Today: Adani Group, UltraTech, Auto, Sugar, ONGC, Blue Star

Stocks to Watch: On the earnings front, Ambuja Cements, Adani Total Gas, PSB, Tata Steel and Uco Bank are likely to be on investors radar on Tuesday.

SBI Card Q4 net up 3% to Rs 596 cr on rise in finance, operating costs

Impairment losses and bad debts expenses increased by 60 per cent at Rs 630 crore in Q4 against Rs 393 crore in the same period a year ago

Top card cos to go live with UPI-linked RuPay credit card feature by June

The feature seeks to include 50 million UPI merchants in the formal credit economy and drive consumption in a big way