SBI Cards and Payment Services Limited — Updates, 06-12-2024: Press Release

SBI Card has reached a significant milestone by surpassing 2 crore cards in force, reinforcing its position as India's leading credit card issuer. This achievement highlights the company's commitment to innovation and customer-centric solutions. Since its inception in 1998, SBI Card has seen impressive growth, with a 25% CAGR in cards and 26% CAGR in spending from FY19 to FY24. The diverse portfolio includes numerous offerings tailored to meet varying customer needs, including premium and lifestyle-focused cards.

The company emphasizes its dedication to superior customer service and seamless digital onboarding, which have contributed to its popularity among Indian consumers. With a strong acquisition network across the country and a focus on delivering value, SBI Card is well-positioned for continued growth. The milestone illustrates the trust placed in the brand and sets a positive outlook for its future initiatives and expansion efforts.