SBI Cards Q1 FY26 Results : Revenue Jumps 12% to ₹5,035 Cr, PAT at ₹556 Cr
SBI Cards posts double-digit revenue growth in Q1 FY26, but profits dip amid rising costs and impairment losses.
New Delhi | 28, July 2025 : SBI Cards and Payment Services Limited announced its financial results for the quarter ended June 30, 2025. The company reported a 12% year-on-year increase in total revenue, reaching ₹5,035 crore in Q1 FY26, compared to ₹4,483 crore in Q1 FY25. However, profit after tax (PAT) dropped 6% YoY to ₹556 crore from ₹594 crore.
SBI Cards Q1 FY26 Performance Highlights
- Total Revenue: ₹5,035 Cr, up 12% YoY
- PAT: ₹556 Cr, down 6% YoY
- Return on Average Assets (ROAA): 3.4% vs 4.1% last year
- Return on Average Equity (ROAE): 15.8% vs 19.1% last year
- Capital Adequacy Ratio (CAR): 23.2% | Tier I Capital: 17.9%
Business Growth Overview
SBI Cards witnessed a healthy growth in card usage and spends, despite a decline in net profits.
Card and Account Metrics:
- Cards-in-force grew 10% YoY to 2.12 crore
- New accounts opened in Q1 FY26 stood at 873,000, slightly down from 904,000 YoY
- Total Spends surged 21% YoY to ₹93,244 crore
Receivables & Market Position:
- Receivables increased 7% YoY to ₹56,607 crore
- Market share in:
- Cards-in-force: 19.1% (up from 18.5%)
- Spends: 16.6% (up from 15.9%)
- Industry rank: #2 in cards-in-force, #3 in spends
SBI Cards Financial Breakdown – Q1 FY26
Income Analysis:
- Interest Income: ₹2,493 Cr, up 11%
- Fees & Commission: ₹2,384 Cr, up 13%
Cost Structure:
- Finance Costs: ₹813 Cr, up 6%
- Operating Expenses: ₹2,123 Cr, up 17%
- Earnings Before Credit Costs: ₹2,100 Cr, up 11%
Impairment & Losses:
- Impairment Losses and Bad Debts: ₹1,352 Cr, up 23%
Balance Sheet Highlights (As of June 30, 2025)
- Balance Sheet Size: ₹66,009 Cr (vs ₹65,546 Cr on March 31, 2025)
- Gross Advances (Credit Card Receivables): ₹56,607 Cr
- Net Worth: ₹14,413 Cr (vs ₹13,853 Cr on March 31, 2025)
Asset Quality and Capital Adequacy
SBI Cards maintained a stable asset profile:
- Gross NPA: 3.07% (vs 3.06% in Q1 FY25)
- Net NPA: 1.42% (vs 1.11% in Q1 FY25)
The company’s capital strength remained robust:
- Capital to Risk-Weighted Assets Ratio (CRAR): 23.2%
- Tier I Capital: 17.9% (above RBI’s 10% requirement)
While SBI Cards posted a strong revenue growth in Q1 FY26, profit margins faced headwinds due to higher operating costs and impairment losses. However, growth in spends and market share, coupled with a strong capital base, signals long-term stability for the company.
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