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**Financial Highlights:**
For FY25, SBI Cards reported a total income of ₹18,637 Cr, up 7% YoY, driven by retail spends, which surged 18% to ₹308,779 Cr. However, PAT declined 20% to ₹1,916 Cr amid rising operational costs. The company maintained a strong net interest margin (NIM) of 11.2% despite an increase in credit cost to 9.0%. Gross non-performing assets (GNPA) rose to 3.08%, reflecting a 31 bps increase YoY.
**Strategic Initiatives and Growth Drivers:**
SBI Card achieved significant milestones, including crossing 20 million cards in force and supporting robust retail spending. Active user engagement through diversified offerings, like corporate partnerships, positions the company for growth in subsequent quarters.
**Business Developments:**
SBI Cards continues to promote co-branded cards, such as the BPCL SBI Card, which has hit a milestone of 4 million cards. The company has partnered with Apple to provide cardholders attractive discounts, enhancing customer engagement and retention.
**Market Position and Competitive Advantage:**
With a dominant market share in credit sectors, SBI Cards’ strategic initiatives in UPI spending and enhanced customer offerings reinforce its competitive edge.
**Investor Implications:**
Investors should watch closely as SBI Cards navigates a challenging credit environment but remains committed to growth through strategic expansions and innovative digital solutions, signaling a positive outlook despite recent profit declines.
All announcements from SBI Cards and Payment Services Limited