SBI Cards and Payment Services logo

SBI Cards and Payment Services share price

NSE: SBICARDBSE: 543066FinanceMid Cap

SBI Cards and Payment Services Limited · Face value ₹10 · Listed Mar 2020 · Issue price ₹755
Last close ₹527.55down ₹0.50 (0.09%)BSE ₹527.00

Share price at the NSE close on 28 Oct 2026. Previous close ₹528.05.

28 Oct: open ₹528.00, high ₹528.35, low ₹519.05

52-week range of traded prices to 28 Oct 2026
₹519.05Low, 28 Oct 2026₹915.00High, 28 Oct 2025
Market cap
₹50,204 Cr161st largest listed
P/E
19.25
P/B
2.92
Dividend yield
0.47%
ROE
16.3%
NIM
11.24%
Cost of funds
6.90%
Credit cost
9.11%
ROA
3.29%
Leverage
4.47times net worth
Volume, NSE
12,09,80448.1% delivered

SBI Cards and Payment Services share price chart

Daily closes since Mar 2020, adjusted for splits and bonuses

−41.8%over a year

ResultsDividend20-session average 10,70,542 shares a day, 43.8% delivered

About SBI Cards and Payment Services

SBI Cards and Payment Services Limited issues credit cards in India and is a subsidiary of State Bank of India.1 It is a non-banking financial company, a lender that is not a bank.2 Its cards meet customers' payment and short-term credit needs, for cardholders ranging from super-premium and premium to mass-market and first-time borrowers, and it also issues corporate cards to companies.13

Its range is split into core cards, such as AURUM, SBI Card Elite and SBI Card PRIME, and co-brand cards made with retail, travel, fuel and banking partners.4 Its registered office is in New Delhi and its corporate office in Gurugram, Haryana.5 It has no subsidiaries.6

It was incorporated in 1998 and in 2020 became the first pure-play credit card company, one that does nothing but credit cards, to list on the BSE and NSE.78

State Bank of India held 68.58% of the shares at the end of Sep 2026, and its promoter group, the bank with its subsidiaries, 68.86%.9 The bank deputes the managing director and chief executive: Salila Pande, a deputy managing director of State Bank of India, took charge on 1 Apr 2025.1011

SBI Cards and Payment Services key points

Results

  • In the quarter to Sep 2026, revenue from operations was ₹5,141 crore, up 4% from a year earlier, and profit after tax was ₹778 crore, up 75%.1213
  • Revenue from operations in the quarter to Sep 202614
    Itemquarter to Sep 2026
    Interest income₹2,511 crore
    Fees and other revenue₹2,630 crore
  • In the year to Mar 2026, revenue from operations was ₹19,900 crore, up 10%, and profit after tax ₹2,167 crore, up 13%.15
  • Return on average assets, annualised profit as a share of assets, was 4.4% in the quarter to Sep 2026 and return on average equity 18.4%, against 3.2% and 14.6% in the year to Mar 2026.1617

Market position

  • The company held 18.6% of India's credit cards in force and, in RBI data for June 2026, 19.5% of card spends, up from 18.1% in the year to Mar 2026.18
  • SBI Card is the second-largest credit card issuer by cards in force, spends and transactions, and its net addition of 4.84 lakh cards in the quarter to Jun 2026 was the highest in the industry.19

Card spends

  • Cardholders spent ₹1,10,689 crore in the quarter to Sep 2026, up 3% from a year earlier; retail spends were ₹95,299 crore, up 6%. Corporate card spends were ₹15,390 crore, against ₹17,452 crore a year earlier.2021
  • In the year to Mar 2026, cardholders spent ₹4,30,359 crore, up 29%: retail spends were ₹3,53,764 crore, up about 15%, and corporate card spends ₹76,595 crore, up 210%.222324
  • Online purchases made up 63% of retail spends in the quarter to Jun 2026.25

Loan book and deposits

  • Receivables, the amounts cardholders owe, were ₹58,376 crore at the end of Sep 2026, down 2% from a year earlier; about 55% of them earned interest.2026
  • At the end of Sep 2026, gross non-performing assets, overdue balances classed as bad loans, were 1.90% of receivables and 0.77% net of provisions; gross credit cost, write-offs and provisions as an annualised share of receivables, was 5.6% for the quarter.27
  • The company's capital adequacy ratio, capital as a share of risk-weighted assets, was 26.5% at the end of Sep 2026.28
  • ICRA's rating rationale, in the company's filing of 23 Oct 2026, said bank loans and credit lines made up 86.0% of funding at the end of June 2026 and debentures 13.7%, and State Bank of India was the largest lender, with 47% of borrowings.2930

Branches and reach

  • There were 2.32 crore cards in force at the end of Sep 2026, up 8% from a year earlier, and 11.06 lakh new accounts were opened in the quarter, up 18%.31
  • In the year to Mar 2026, the company had a presence in 206 cities, more than 200 sourcing locations and over 170 kiosks at airports, malls, metro stations and corporate parks.3233
  • In the quarter to Jun 2026, about 47% of new accounts came through Banca, State Bank of India's distribution network, and 53% from the open market.34

Customers and partners

  • In the year to Mar 2026 the company launched co-branded cards with Tata Neu, Flipkart, IndiGo and PhonePe, and a partnership card with Bank of Maharashtra.3536
  • By its presentation of 23 Oct 2026, the company had launched the Google Pay Flex SBI Card with Google Pay.37
  • The BPCL SBI Card, a fuel co-brand card, crossed the 5 million milestone in the quarter to Jun 2026.38

What the company expects

  • On its earnings call of 24 Jul 2026, the company said it expects return on assets of 4% to 4.5% over the medium term.39
  • On its earnings call of 24 Jul 2026, the company said it expects a cost-to-income ratio, operating costs as a share of net revenue, of about 56% to 58% for the current financial year. It was 58.7% in the quarter to Sep 2026.4041
  • On its earnings call of 24 Jul 2026, the company said it expects asset growth to pick up from the half year to Mar 2027, helped by more new accounts and the festive season.42
  • On its earnings call of 24 Jul 2026, the company said it aims to keep corporate card spends at around 20% of total spends, which it called the higher end of its range, and that they could go below 20%.43

Recent events

  • On 23 Oct 2026, ICRA reaffirmed its AAA (Stable) long-term rating on the company's debt instruments and bank facilities, and its A1+ short-term rating on its bank lines and commercial paper, with ₹75,050 crore rated in all.44
  • On 17 Nov 2025, Crisil Ratings reaffirmed its AAA/Stable and A1+ ratings and raised the bank loan facilities it rates to ₹62,000 crore from ₹57,000 crore.45

Last updated

All 45 sources, each with its page
  1. 1. Annual report, 3 Aug 2026, page 260
  2. 2. Annual report, 3 Aug 2026, page 272
  3. 3. Annual report, 3 Aug 2026, page 199
  4. 4. Investor presentation, 23 Oct 2026, page 26
  5. 5. Annual report, 3 Aug 2026, page 2
  6. 6. Annual report, 3 Aug 2026, page 318
  7. 7. Annual report, 3 Aug 2026, page 2
  8. 8. Annual report, 3 Aug 2026, page 44
  9. 9. Investor presentation, 23 Oct 2026, page 21
  10. 10. Annual report, 3 Aug 2026, page 176
  11. 11. Annual report, 3 Aug 2026, page 58
  12. 12. Investor presentation, 23 Oct 2026, page 11
  13. 13. Investor presentation, 23 Oct 2026, page 5
  14. 14. Investor presentation, 23 Oct 2026, page 12
  15. 15. Annual report, 3 Aug 2026, page 48
  16. 16. Investor presentation, 23 Oct 2026, page 5
  17. 17. Annual report, 3 Aug 2026, page 48
  18. 18. Earnings call, 24 Jul 2026, page 4
  19. 19. Earnings call, 24 Jul 2026, page 4
  20. 20. Investor presentation, 23 Oct 2026, page 5
  21. 21. Investor presentation, 23 Oct 2026, page 7
  22. 22. Annual report, 3 Aug 2026, page 48
  23. 23. Annual report, 3 Aug 2026, page 70
  24. 24. Annual report, 3 Aug 2026, page 199
  25. 25. Earnings call, 24 Jul 2026, page 4
  26. 26. Investor presentation, 23 Oct 2026, page 7
  27. 27. Investor presentation, 23 Oct 2026, page 5
  28. 28. Investor presentation, 23 Oct 2026, page 5
  29. 29. Exchange filing, 23 Oct 2026, page 5
  30. 30. Exchange filing, 23 Oct 2026, page 4
  31. 31. Investor presentation, 23 Oct 2026, page 5
  32. 32. Annual report, 3 Aug 2026, page 149
  33. 33. Annual report, 3 Aug 2026, page 199
  34. 34. Earnings call, 24 Jul 2026, page 4
  35. 35. Annual report, 3 Aug 2026, page 49
  36. 36. Annual report, 3 Aug 2026, page 199
  37. 37. Investor presentation, 23 Oct 2026, page 28
  38. 38. Earnings call, 24 Jul 2026, page 4
  39. 39. Earnings call, 24 Jul 2026, page 5
  40. 40. Earnings call, 24 Jul 2026, page 15
  41. 41. Investor presentation, 23 Oct 2026, page 11
  42. 42. Earnings call, 24 Jul 2026, page 5
  43. 43. Earnings call, 24 Jul 2026, page 10
  44. 44. Exchange filing, 23 Oct 2026, page 1
  45. 45. Exchange filing, 17 Nov 2025, page 1

Results

Standalone; ₹ crore. Income from operations is what the business earns: interest on loans, fees, dividends and the rest.SBI Cards and Payment Services quarterly results

Income from operations growth, 12 months
+5.8%
Net profit growth, 12 months
+36.0%

Quarter to Sep 2026, against the quarter before

Income from operations
₹5,141 Crup 1.98%
Net profit
₹778 Crup 17.03%

Income from operations by quarter

₹4,619 CrDec 24₹4,674 CrMar 25₹4,877 CrJun 25₹4,961 CrSep 25₹5,127 CrDec 25₹4,935 CrMar 26₹5,041 CrJun 26₹5,141 CrSep 26
Peak income from operations ₹5,141 Cr, quarter to Sep 2026; lowest ₹4,619 Cr, quarter to Dec 2024

Net profit by quarter, a loss in red

₹383 CrDec 24₹534 CrMar 25₹556 CrJun 25₹445 CrSep 25₹557 CrDec 25₹609 CrMar 26₹664 CrJun 26₹778 CrSep 26
₹ croreDec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Income from operations4,6194,6744,8774,9615,1274,9355,0415,141
Net profit383534556445557609664778
Standalone. The last eight quarters. The latest is shaded.

Business segments

In the year to Mar 2026 the company reports one business segment, CREDIT CARD BUSINESS, which carries all its revenue.

Valuation

Today, against the company's own history.SBI Cards and Payment Services PE ratio and valuation

Price to earnings

At or below today's level on 0.1% of 1,236 trading days over the last 5 years.

LowestHighest
Its median35.24Industry median19.27
Price to book

At or below today's level on 0.1% of 1,236 trading days over the last 5 years.

LowestHighest
Its median6.31Industry median1.08
Dividend yield

At or below today's level on 100% of 1,230 trading days over the last 5 years.

LowestHighest
Its median0.32%Industry median0.78%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year−27.5%+13.0%−36.2%0.4%
3 years−4.6%−1.6%−3.4%0.3%
5 years−7.0%+16.8%−20.6%0.3%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.SBI Cards and Payment Services shareholding pattern

Shareholding by group

  • Promoters68.86%
  • Foreign institutions7.12%
  • Indian institutions20.20%
  • Individuals and others3.83%
Holder
State Bank of IndiaPromoter68.58%
Life Insurance Corporation of India - P & Gs FundInsurance companies6.11%
Government Pension Fund GlobalForeign portfolio investors, category I1.80%
SBI Life Insurance Company LimitedPromoter0.28%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Since Jun 2026: promoters unchanged, foreign institutions −1.87 pts, Indian institutions +2.07 pts, mutual funds +2.20 pts.

Mutual fund holdings

144 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 77 of the 95 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 3 more funds filed their first portfolio on record, holding it.All 144 funds holding SBI Cards and Payment Services

Bought for the first time
5
Bought again
13
Added
56
Cut
39
Held unchanged
28
Sold out
6
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 28 Oct 2025.SBI Cards and Payment Services insider trading

No promoter, director, key manager or employee bought or sold on the market.

  • Promoters and promoter group: no market trade · 60 pledge filings of unclear kind
  • Others: no market trade · 1 pledge filing of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

SBI Cards and Payment Services competitors and peers

Non Banking Financial Company (NBFC), 279 listed companies, priced on 28 Oct 2026. The table lists the 8 companies closest to SBI Cards and Payment Services in market cap.Finance companies

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
Shriram Finance logoShriram FinanceSHRIRAMFIN1,95,90315.441.76+13.8%+28.6%14.7%–3.26%9.00%1.30%
Cholamandalam Investment and Finance Company logoCholamandalam Investment and Finance CompanyCHOLAFIN1,32,50323.044.35+19.6%+29.1%21.3%–2.34%6.79%0.13%
Tata Capital logoTata CapitalTATACAP1,31,29422.012.68––14.0%–––0.18%
Muthoot Finance logoMuthoot FinanceMUTHOOTFIN96,0598.452.45+50.7%+84.8%33.2%–6.46%12.81%1.25%
Sundaram Finance logoSundaram FinanceSUNDARMFIN43,59919.642.93+13.7%+15.6%15.8%–2.56%4.60%1.02%
Piramal Finance logoPiramal FinancePIRAMALFIN42,68322.481.38––6.5%–––0.61%
Authum Investment & Infrastructure logoAuthum Investment & InfrastructureAIIL41,95620.032.85−34.5%−48.8%14.2%13.3%––0.00%
HDB Financial Services logoHDB Financial ServicesHDBFS41,79714.121.89––14.3%–––0.80%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record; for ROCE and EV/EBITDA, where the company is a lender or an insurer; for NIM and ROA, where the company does not file a lender's accounts or has no recent year with a balance sheet at its start and its end. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page. ROA is the year's profit over average total assets. NIM is net interest income over average loans and investments. Income growth is the growth of everything the company earns: interest, fees, premiums and the rest.

Dividends

Per share, by the year it was paid for, and the latest payments.SBI Cards and Payment Services dividend history

Dividend per share, ₹, restated for later splits and bonuses

1Mar 20Mar 212.5Mar 222.5Mar 232.5Mar 242.5Mar 252.5Mar 26
Highest ₹2.50 a share, in 5 years, the latest the year to Mar 2026.
Ex-dateTypePer share
11 Mar 2026Interim₹2.50
25 Feb 2025Interim₹2.50
28 Mar 2024Interim₹2.50
29 Mar 2023Interim₹2.50
30 Mar 2022Interim₹2.50
15 May 2020Interim₹1.00
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.SBI Cards and Payment Services announcements

SBI Cards and Payment Services share price by year

Each calendar year to 2025.SBI Cards and Payment Services share price history

YearClose at year endChangeHighest closeLowest close
2025861.70+29.8%1,017.00677.80
2024663.85−12.6%805.20663.85
2023759.65−4.5%927.70699.35
2022795.50−14.3%1,000.80675.10
2021928.15+9.1%1,140.75852.85
2020851.05–900.20498.75
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before. 2020 is from its first session, 16 Mar 2020.

Recent sessions

The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
27 Oct 2026538.30540.40526.75528.05531.7716,26,65346.5%
26 Oct 2026536.50549.50533.05538.30541.1417,00,25140.5%
23 Oct 2026568.00569.45525.00545.55550.3128,31,36325.1%
22 Oct 2026554.45571.15545.55566.30563.089,58,48637.0%
21 Oct 2026567.50571.15551.10557.95555.159,45,38057.4%
19 Oct 2026566.30581.40565.30567.40574.9215,01,95730.2%
16 Oct 2026573.20575.85561.25564.20567.767,16,74453.8%
15 Oct 2026566.00578.75564.25573.20573.8610,22,68765.8%
14 Oct 2026572.00572.00564.10568.00567.447,78,17052.4%
Prices in ₹ per share as traded, not adjusted.

Company details