SBI Cards Declares Interim Dividend; Reports 30% Drop in Q3 Profit & New CEO Appointed

One of India's leading credit card companies, SBI Cards & Payment Services Ltd, declared an interim dividend of Rs. 2.50 per equity share for the financial year 2024-25. The company was launched in May 1998 as a joint venture between State Bank of India (SBI) and GE Capital.

SBI Cards Interim Dividend Details

SBI Cards and Payment Services Ltd has announced an interim dividend of ₹2.50 per equity share (25% of face value Rs.10 each) for the financial year 2024-25. The company's Board of Directors declared this interim dividend at its meeting today. The record date for determining the entitlement of the payment will be Tuesday, February 25, 2025, and the dividend will be credited or dispatched on or before March 18, 2025.

SBI Cards Dividend History

As per the information available on the BSE, SBI Cards has previously declared the following dividends: Rs.2.50 on 28 March 2024, Rs. 2.50 on 29 March 2023, Rs. 2.50 on 30 March 2022, and Rs. 1.00 on 15 May 2020.

SBI Cards Stock Performance Today

Shares of SBI Cards and Payment Services closed at ₹865 today, marking a decline of 1.39% from the previous session. Despite this slight dip, the stock has shown a solid 11.23% gain over the past five days, reflecting positive sentiment from investors following recent news and developments, including the interim dividend announcement.

SBI Cards Q3 Results for FY25

SBI Cards and Payment Services reported its Q3 FY25 results, revealing a 30% year-on-year decline in consolidated net profit, which stood at Rs.383.2 crore compared to Rs.549.1 crore in Q3 FY24. Despite the drop in profit, the company's consolidated revenue rose by 1%, amounting to Rs. 4,767 crore, up from Rs. 4,742 crore in the same period last year. The net non-performing assets (NPAs) remained relatively stable, decreasing slightly to 1.18% from 1.19% in the previous quarter. Net interest income (NII), however, saw a decline of 3.5%, falling to Rs. 3,790.1 crore from Rs. 3,926.2 crore a year ago. The drop in profit and NII could be attributed to the challenging market conditions and rising cost pressures, but the company continues to maintain solid operational performance.

SBI Cards Latest News

In other news, SBI Cards has appointed Salila Pande as its new Managing Director (MD) and CEO, effective April 1, 2025. This move comes after the board's approval and is expected to bring fresh leadership to the company, further enhancing its growth prospects. Pande's appointment will be subject to necessary regulatory approvals.