SBI Credit Card

SBI Card was exception as gains card base, market share

SBI Card reported a modest quarter with net earnings impacted due to higher provisions.

Rama Mohan Rao Amara, MD & CEO, SBI Card spoke on the reasons behind record spends, the company's ideal run rate of issuance of credit cards, impact of RBI's discussion paper on payment charges.

Spends have topped Rs 1 trillion level for five consecutive months now

SBI card shares of the lender were trading 4.2 per cent higher than the previous day's close at Rs 926.1

Bounce rates by value at three-year low

Shares of SBI Cards and Payment Services on Tuesday gained nearly 5 per cent after the firm reported an 84 per cent jump in net profit for December quarter 2021

Bajaj Finserv and SBI Cards also impacted

Among its various business verticals, analysts say Citi's credit card business will be most sought after by suitors

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Asset quality needs monitoring as Q3's gross NPA ratio of 4.5 per cent is higher than average

As SBI Card is the largest pure credit-card issuer in India, analysts expect the company to grow faster than the sector average

State Bank of India (SBI) on Wednesday said it is planning to dilute stake in its card business through the initial public offer (IPO) route. The country's largest lender currently holds 74 per cent stake in SBI Cards & Payment Services Private Limited. The Executive Committee of Central Board of the bank at its meeting held on Wednesday "has given in-principle approval to explore the possibility of diluting SBI's stake in SBI Cards & Payment Services Private Limited, a subsidiary company through IPO route at an opportune time, subject to the approval of RBI and other regulatory agencies in this regard," the bank said in a regulatory filing. Further, specific disclosures on offer for sale (OFS) by promoters will be be given, once the same is finalised by the bank, it said. The bank had launched SBI Card in October 1998. In December 2017, SBI and the Carlyle Group acquired GE Capital's stake in the joint venture. SBI holds 74 per cent, while Carlyle holds 26 per cent in the ...

'Already pilot projects for the product have been launched in in Rajashtan, Gujarat and Madhya Pradesh'