SBI Cards and Payment Services Limited — Updates, 29-10-2024: Press Release

SBI Cards and Payment Services Limited reported an 8% year-over-year revenue increase to ₹4,556 crore for Q2 FY25, while profit after tax declined by 33% to ₹404 crore. The company achieved a 10% growth in cards-in-force, totaling 1.96 crore, and saw a 23% rise in receivables, reaching ₹55,601 crore. The capital adequacy ratio stood at 22.1%, with gross non-performing assets at 3.27%. The company continues to enhance its credit card offerings amid a competitive market.