SBI Cards board OKs Rs 2,500-cr NCD issue

SBI Cards and Payment Services said that its board has approved raising offunds by way of issuance of non-convertible debentures (NCDs) aggregating to Rs 2,500 crore in one or more tranches, on private placement basis.

The announcement was made after market hours yesterday, 6 June 2022.

SBI Cards and Payment Services is a non-banking financial company that offers extensive credit card portfolio to individual cardholders and corporate clients.

The company reported a 231% jump in net profit to Rs 581 crore on a 22% rise in total income to Rs 3,016 crore in Q4 FY22 over Q4 FY21.

The scrip shed 0.43% to currently trade at Rs 770.60 on the BSE.

 

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