Asset quality showed improvement, with gross non-performing assets (GNPA) declining to 2.85% from 3.07% sequentially. Net NPA also fell to 1.29% from 1.42% in the previous quarter.
SBI Cards’ return on average assets (ROAA) stood at 2.6% compared with 2.7% in Q2 FY25, and return on average equity (ROAE) at 12.1% versus 12.5% in the same period last year. The company maintained a strong capital adequacy ratio (CRAR) of 22.5%, with Tier 1 capital at 17.5%.
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The company’s cards-in-force grew 10% YoY to 2.15 crore in Q2 FY26 from 1.96 crore in Q2 FY25. New account additions rose to 936,000 in the quarter versus 904,000 a year ago. Cardholder spends surged 31% YoY to ₹1,07,063 crore, while receivables increased 8% YoY to ₹59,845 crore.
As per RBI data available till August 2025, SBI Cards held a market share of 19.0% for cards-in-force (up from 18.5%) and 17.0% for spends (up from 15.7%), ranking #2 in cards-in-force and #3 in spends in the industry.
Total income for the quarter rose 13% YoY to ₹5,136 crore from ₹4,556 crore, driven by interest income of ₹2,490 crore (up 9% YoY) and fees and commission income of ₹2,471 crore (up 16% YoY). Finance costs declined 4% to ₹760 crore due to lower borrowing costs.
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Total operating expenses increased 24% to ₹2,484 crore from ₹2,011 crore in Q2 FY25. Earnings before credit costs (EBCC) rose 8% YoY to ₹1,892 crore, while impairment losses and bad debt expenses increased 7% to ₹1,293 crore.
On the balance sheet front, as of September 30, 2025, total assets stood at ₹69,862 crore compared with ₹65,546 crore as of March 31, 2025. Total advances (net of provisions) were ₹57,856 crore, up from ₹53,935 crore, and net worth reached ₹14,861 crore, against ₹13,853 crore at the end of the previous fiscal year.
Asset quality improved, with gross non-performing assets (GNPA) at 2.85% of gross advances, down from 3.27% a year ago. Net NPA stood at 1.29%, slightly higher than 1.19% in Q2 FY25. The company maintained a robust CRAR of 22.5%, exceeding the RBI’s minimum requirement of 15%, compared with 22.1% as of September 30, 2024.
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Shares of SBI Cards and Payment Services Ltd ended at ₹936.45, up by ₹7.85, or 0.85%, on the BSE.
