SBI Cards and Payment Services Limited — PPTs, 28-01-2025: Investor Presentation

**Financial Highlights:** SBI Cards reported a significant uptick in receivables, reaching ₹37,730 Cr, marking a 41% year-on-year increase and a 30% quarter-on-quarter growth. However, PAT saw a decline to ₹383 Cr, down 30% year-on-year. The company's yield remained steady at 16.5%, ensuring consistent revenue generation amidst rising credit costs.

**Strategic Initiatives and Growth Drivers:** The company achieved a milestone of 2 crore cards-in-force by the end of December 2024, reflecting a robust growth in customer acquisition, with ~1 million new accounts opened in Q3 FY25. Retail spends increased by 10%, signifying strong consumer engagement amidst ongoing promotional campaigns.

**Business Developments:** SBI Cards launched multiple promotional campaigns, including collaborations with major e-commerce platforms, aimed at enhancing customer interaction and driving transaction volume during the festive season.

**Market Position and Competitive Advantage:** The company maintains a strong market share in the credit card space, with 19.2% in transactions and 19.8% in spends, solidifying its position as a leading player in the Indian credit card market.

**Investor Implications:** While the growth in receivables and customer base signals a positive outlook, investors should keep an eye on the declining PAT and the implications of rising credit costs, which could impact profitability in the near term. Still, the expansion initiatives and steady market positioning indicate potential for future growth.