SBI Cards Achieves Notable Growth in Q2 FY26 with 13% Increase in Total Income

SBI Cards and Payment Services Ltd demonstrated a solid performance in Q2 FY26, with notable growth in key financial metrics. The company's total income increased by 13% year-on-year (YoY) to Rs 5,136 crore, up from Rs 4,556 crore in Q2 FY25. This was driven by a 9% YoY rise in interest income to Rs 2,490 crore and a robust 16% growth in non-interest income to Rs 2,471 crore.

Operating expenses saw a 24% YoY increase to Rs 2,484 crore, indicating heightened business activity and expansion efforts. Conversely, finance costs decreased by 4% YoY to Rs 760 crore, reflecting reduced borrowing expenses. Impairment losses and bad debts rose by 7% YoY to Rs 1,293 crore. Despite a sequential decline of 20%, the profit after tax (PAT) grew by 10% YoY to Rs 445 crore from Rs 404 crore in the same period last year.

The balance sheet as of September 30, 2025, showed strong growth compared to March 31, 2025. Total assets increased by approximately 7%, rising from Rs 65,546 crore to Rs 69,862 crore. Loans (net of provisions) exhibited strong credit growth, increasing from Rs 53,935 crore to Rs 57,856 crore. Cash and bank balances also improved from Rs 2,738 crore to Rs 3,333 crore, indicating better liquidity management.

Investments experienced a slight decrease from Rs 6,235 crore to Rs 5,906 crore. Non-financial assets remained relatively stable at Rs 2,111 crore. Other financial assets and trade receivables increased from Rs 514 crore to Rs 656 crore. The company reported an improved net worth with total equity rising from Rs 13,782 crore to Rs 14,789 crore.

To support loan growth, borrowings, subordinated liabilities, and debt securities increased from Rs 44,947 crore to Rs 49,225 crore. Non-financial liabilities slightly decreased to Rs 1,820 crore from Rs 1,844 crore. Other financial liabilities fell to Rs 4,028 crore from Rs 4,974 crore. As of September 30, 2025, gross non-performing assets were at 2.85% of gross advances compared to the previous year's figure of 3.27%.

Net non-performing assets stood at 1.29%, slightly up from the previous year's figure of 1.19%. As of Q2 FY26, the company maintained a substantial base with over 21.5 million cards in use.