SBI Cards and Payment Services (SBI Card) has risen 4 per cent to Rs 991.95 on the BSE intra-day trade on asset quality improvement in the June 2021 quarter (Q1FY22), with gross non-performing assets (GNPA) at 3.91 per cent as against 4.99 per cent in the March 2021 quarter (Q4FY21). Net NPA was down to 0.88 per cent from 1.15 per cent in Q4FY21. As of June 2020 (Q1FY21), GNPA and NNPA stood at 1.35 per cent and 0.43 per cent, respectively.

The Reserve Bank of India (RBI) RE (Resolution Plan) book was down from 8 per cent to 6 per cent sequentially. The management overlay provision was at Rs 258 crore as of Q1FY22.

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SBI Card is a non-banking financial company that offers an extensive credit card portfolio to individual cardholders and corporate clients, which includes lifestyle, rewards, travel and fuel, and banking partnerships cards along with corporate cards covering all primary cardholders’ segments in terms of income profile and lifestyle.

In Q1FY22, SBI Card saw a sequential revenue increase of 2 per cent, and 10 per cent year-on-year (YoY), to Rs 2,362 crore. The net profit was up 74 per cent at Rs 304.61 crore against Rs 175.42 crore QoQ. Net interest margin improved 159 basis points (bps) sequentially at 14.8 per cent from 13.2 per cent the previous quarter.

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SBI Cards and Payment Services (SBI Card)-View Detailed Analysis