India's SBI Cards and Payment Services reported a rise in second-quarter profit on Friday, helped by an improvement in its asset quality and a drop in provisions.
- The credit card firm, a unit of State Bank of India, said its profit after tax rose to ₹778 crore ($81.9 million) for the quarter ended September 30, from ₹445 crore last year.
- The company has steadily tightened credit underwriting over the last few quarters to tackle asset quality stress and higher delinquencies in credit cards.
- As a result, SBI Card's asset quality improved, with gross non-performing assets at 1.90 per cent as of September-end, down 14 basis points from three months earlier.
- Meanwhile, loan loss provisions also dropped 36.6 per cent year-on-year to ₹819 crore.
- Credit growth sustained strong momentum in the second quarter of fiscal 2027, after picking up in the second half of the previous year. Analysts expected card spends to remain steady in the reported quarter, led by growth in corporate spends and steady retail spending.
- SBI Cards reported a 3 per cent year-on-year rise in total card spending to ₹1.11 lakh crore.
- Its total revenue from operations rose 3.6% year-on-year to ₹5,141 crore.
- Cards-in-force, or the sum of all credit cards issued, rose 8 per cent from a year earlier to 23.2 million.
Published on October 23, 2026
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