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SBI Cards and Payment Services
SBI Cards and Payment Services (SBICARD) investor relations material
SBI Cards and Payment Services Q3 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 25/26 earnings summary28 Jan, 2026
Executive summary
India’s GDP growth and digital payments adoption supported robust domestic demand and credit card usage.
Achieved strong profitability in Q3 FY26, with PAT up 45% YoY to ₹557 Cr and revenue from operations up 11% YoY to ₹5,127 Cr.
Net new accounts grew 26% YoY, with cards-in-force up 8% YoY and a market share of 18.8%.
Strategic partnerships and customer-centric campaigns, including with Apple, Amazon, and Flipkart, drove engagement and spend growth.
Unaudited financial results for the quarter and nine months ended December 31, 2025, were approved and reviewed by the Board and statutory auditors.
Financial highlights
Revenue from operations grew 11% YoY to ₹5,127 Cr, with PAT at ₹557 Cr, up 45% YoY.
Retail spends reached ₹91,962 Cr, up 14% YoY; online spends contributed 62.1% of total retail spends for the nine months.
Receivables stood at ₹57,213 Cr, up 4% YoY; operating cost increased 23% YoY.
Cost-to-income ratio for the quarter was 56.8%.
Earnings per share (basic and diluted) for the quarter were ₹5.85, up from ₹4.67 YoY.
Outlook and guidance
Targeting acquisition of 900,000 to 1 million new accounts per quarter, focusing on quality and premium segments.
Asset growth guidance withheld due to portfolio mix changes; focus remains on sustainable, profitable growth.
Cost-to-income ratio expected to remain in the 55–57% range for FY 2026.
Management expects continued business growth and has made additional impairment provisions to reduce volatility in future impairment costs.
Margins expected to shrink in the near to medium term as revolver share declines and yields trend downward.
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Next SBI Cards and Payment Services earnings date
Q4 25/2624 Apr, 2026
SBI Cards and Payment Services
Next SBI Cards and Payment Services earnings date
Q4 25/2624 Apr, 2026
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Frequently asked questions
SBI Cards And Payment Services Limited issues credit cards to individual and corporate customers in India. The company also issues debit cards for use on the MasterCard, Visa, and Maestro platforms. In addition, it provides merchant acquiring by signing merchants to accept such cards at point of sale terminals; and travel services comprising booking tickets for air travel, railway tickets, hotels, and foreign exchange, as well as offers various lifestyle products consisting of health insurance services, gift vouchers of various leading brands. The company offers its products directly through its employees, as well as through banks' distribution channels. The company was incorporated in 1998 and is headquartered in Gurugram, India.
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