SBI Card Q1 FY27 Results: PAT Rises 20% to ₹664 Crore, Credit Card Spends Jump 27%

BY ADMIN • FILED 24 Jul 2026, 10:30 PM

SBI Cards and Payment Services Limited (SBI Card) reported a strong financial performance for the quarter ended June 30, 2026 (Q1 FY27), driven by a significant reduction in credit costs, healthy growth in card spending, and improved asset quality.

India’s second-largest pure-play credit card issuer posted a 20% year-on-year increase in Profit After Tax (PAT) while maintaining its leadership position across key industry metrics, including cards-in-force, spending, and transaction volumes.

SBI Card Q1 FY27 Financial Highlights

The company reported solid growth across key financial indicators during the quarter:

Profit After Tax (PAT): ₹664 crore, up 20% year-on-year from ₹556 crore in Q1 FY26.
Sequential PAT Growth: Increased 9% from ₹609 crore reported in Q4 FY26.
Total Revenue (including other income): ₹5,205 crore, registering 3% year-on-year growth compared with ₹5,035 crore in Q1 FY26.
Fee and Non-Interest Income: ₹2,620 crore, up 10% year-on-year.
Interest Income: ₹2,421 crore, down 3% year-on-year.

The improvement in profitability was primarily supported by lower impairment costs and strong growth in fee-based income.

Credit Card Business Continues Strong Growth

SBI Card continued to witness healthy customer engagement and spending activity during the quarter.

Key operating metrics include:

Total Credit Card Spends: ₹1,18,475 crore, up 27% year-on-year.
Cards-in-Force: 2.26 crore, representing 7% growth over the previous year.
New Cards Issued: Approximately 10.23 lakh new accounts were added during Q1 FY27.

The continued increase in spending and customer acquisition reflects strong consumer demand and sustained growth in digital payments.

Maintains Strong Market Position

SBI Card retained its position as the second-largest credit card issuer in India, maintaining leadership across several key industry parameters.

The company reported:

18.6% market share in cards-in-force.
19.5% market share in overall credit card spending.
Continued No. 2 ranking in transaction volumes across the industry.

Return Ratios Improve

Improved profitability and operational efficiency led to stronger return metrics.

Return on Average Assets (ROAA): Improved to 3.9%, compared with 3.4% in Q1 FY26.
Return on Average Equity (ROAE): Increased to 16.5%, up from 15.8% in the corresponding quarter last year.

These improvements reflect better earnings quality and efficient capital utilization.

Asset Quality Strengthens Significantly

SBI Card reported a sharp improvement in asset quality during the quarter.

Key highlights include:

Impairment Losses and Bad Debt Expenses: Declined 30% year-on-year to ₹948 crore, compared with ₹1,352 crore in Q1 FY26.
Gross Non-Performing Assets (GNPA): Improved to 2.04% as of June 30, 2026, from 3.07% a year earlier.
Net Non-Performing Assets (NNPA): Reduced to 0.83% from 1.42%.

The lower credit costs and improving delinquency trends significantly contributed to the company’s higher profitability.

Strong Capital Position

SBI Card continued to maintain a robust capital base.

Capital Adequacy Ratio (CAR): 25.6%.
Tier-I Capital Ratio: 20.3%.

Both ratios remain comfortably above the Reserve Bank of India’s regulatory requirement of 15%, providing ample capacity to support future business growth.