Page 4 - Sbi Cards

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

SBI Pradhan Mantri e-Mudra Loan: How to apply, eligibility, features, more

SBI has an e-Mudra loan facility for small businesses to help them grow in the market. This loan offers easy credits to those involved in sectors like manufacturing, trade and service

NRIs can now open new bank accounts using SBI YONO app; Here's how

The service has been designed for the "new to bank" (NTB) customers and aims to smoothen the process of account opening at SBI for NRIs

Card payments in India to hit Rs 27.9 trillion mark in 2023: GlobalData

To drive card payments and reduce dependence on cash, the government had abolished merchant service fees on transactions with state-owned RuPay cards from January 2020.

Growth, asset quality expectations may limit downside for SBI Card

Growth in spends was healthy with retail spending up 28 per cent YoY while corporate spends rose 10 per cent YoY in Q1FY24

SBI Card Q1FY24 results: PAT down 5.27% to 593 crore, revenue up 26%

The company's revenue from operations went up by 26.18 per cent year-on-year to reach Rs 3,911.88 crore for the quarter that ended on June 30, 2023

Sensex trims losses, ends 107 pts down; Nifty below 19,650; NTPC soars 4%

CLOSING BELL ON JULY 28, 2023: NTPC and PowerGrid were the major gainers among the Sensex 30 stocks, while Bajaj Finserv and HDFC Bank declined up to 2 per cent on Friday.

Abhijit Chakravorty to be new MD & CEO of SBI Cards and Payment Services

Chakravorty, a post graduate in Applied Chemistry, started his banking career as a Probationary Officer with SBI in 1988

Amazon Prime Day 2023 starts on July 15: Check offers on TV, phones, others

Prime Day deals are limited to customers who have bought Amazon's paid Prime subscription

HDFC Life, Muthoot Fin: 75% stocks in financial services index eye bull-run

The Nifty financial services index is poised to rally in the direction of 20,700 - 20,900 level, delivering an upside of 5 per cent.

Credit cards in force touch new high in April even as rollovers decline

Increasing reach and rewards boost credit card spends

Stocks to Watch today, June 6: Adani Group, SBI, Maruti, HUL, Sejal Glass

Top Stocks to Watch on June 6, 2023: Adani Group said it has made a full prepayment of $2.15 billion of loans that were taken by pledging shares in the conglomerate's listed firms

SBI Cards and Payment Services to raise Rs 3,000 crore through NCDs

The board approved raising of funds by way of issuance of NCDs in one or more tranches, on a private placement basis

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

SBI Card reports surprise Q4 profit growth on higher consumer spending

Profit after tax for the quarter ended March 31 rose 2.7% to Rs 596 crore from the previous year, while analysts had expected decline in profit to Rs 542 crore

Street positive on SBI Cards despite Q3 miss, on strong growth expectations

Analysts believe the company will be able to shift a larger part of the receivable mix towards EMI payments, which should help stabilise NIM

SBI Card Q3 net up 32% YoY to Rs 509 cr on strong interest income

Dip in impairment losses and bad debts suppports performance, stock dips on company missing street estimates

Festivals boost credit card spends to record high of Rs 1.29 trillion

On a year-on-year (YoY) basis, spends were up over 25 per cent, despite a high base

SBI Card, Bandhan Bk: 5 stocks can drop up to 13% if mkt sell-off deepens

Market participants usually opt for mid-cap or small-cap stocks. But, if one fails to pick the right stock, investment in such stocks can result into huge losses

SBI Cards and Payment Services tanks 7 per cent on muted Q2 earnings

SBI Card reported a modest quarter with net earnings impacted due to higher provisions.