Q1 2026 SBI Cards and Payment Services Ltd Earnings Call Transcript
Key Points
- SBI Cards and Payment Services Ltd (BOM:543066) achieved a 21% year-over-year growth in total spend, reaching INR93,244 crores in the first quarter.
- The company maintained a strong market position with a 19.1% market share in card reports and 16.6% in card spend as per RBI June 2025 data.
- SBI Cards launched new co-branded products, including Tata Neu SBI Card and Apollo SBI Card, to cater to diverse customer needs.
- The company reported a 12% year-over-year growth in total revenue, driven by increases in both interest income and fees.
- SBI Cards' liquidity position remains strong with a capital adequacy ratio at a healthy level of 33.2%.
- Profit after tax decreased by 6% year-over-year, despite a 4% increase quarter-over-quarter.
- The company's gross credit cost increased by 60 basis points to 9.6% from the previous quarter.
- Receivable growth was lower at 7% year-over-year, with expectations of only 10% to 12% growth for the year.
- The ECL rate increased by 8 basis points quarter-over-quarter, indicating higher expected credit losses.
- SBI Cards faced challenges in new card acquisitions, being selective due to quality concerns in applications.
Ladies and gentlemen, good day and welcome to the SBI Cards and Payment Services Limited Q1 FY26 earnings conference call. (Operator Instructions)
I now hand the conference over to Mila Pandey, MD and CEO SBI Cards. Thank you, and over to you, ma'am.
Thank you, [Reo]. A very good evening to all. On behalf of the Board and management of SBI Card, I extend a warm welcome and sincere thanks for joining us today for the first quarter earnings call for the financial year. I have SBI Cards' leadership team with me, and I would also like to introduce Mr. Krishna Kant Bishnoi, who has recently joined us as the Chief Risk Officer.
Mr. Bishnoi has an FRM certification from (inaudible), along with an Indian banking and finance. He comes with an experience of around 31 years in the banking sector in India and international markets across the key facets of financial industry and especially credit risk management.
Speaking about the macroeconomic
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