The company’s total revenue rose by 3% year-on-year, totaling ₹5,205 crore in Q1 FY27, compared to ₹5,035 crore in Q1 FY26. Net interest income (NII) saw a slight decline of 0.3%, decreasing to ₹1,676 crore from ₹1,681 crore in the previous year’s corresponding quarter.
Profitability metrics improved in this quarter, with return on average assets (ROAA) climbing to 3.9% in Q1 FY27 from 3.4% in Q1 FY26. Return on average equity (ROAE) also grew to 16.5% from 15.8%.
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The Capital Adequacy Ratio for SBI Cards was 25.6% as of Q1 FY27, with Tier I capital at 20.3%. The firm reported expansion across key business metrics. Cards-in-force increased by 7% year-on-year, reaching 2.26 crore in Q1 FY27, up from 2.12 crore in Q1 FY26.
The number of new accounts opened rose to 1,023 thousand during the quarter, compared to 873 thousand in the previous year. Card spending surged 27% year-on-year to ₹1,18,475 crore in Q1 FY27, up from ₹93,244 crore in Q1 FY26. Credit card receivables grew by 3%, totaling ₹58,269 crore compared to ₹56,607 crore.
SBI Cards maintained an 18.6% market share for cards-in-force in Q1 FY27, down from 19.1% in Q1 FY26. However, its market share in spending increased to 19.5% from 16.6%. The company retained its second-place ranking in the industry for cards-in-force, spending, and transactions.
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On the income side, interest income fell by 3% to ₹2,421 crore, down from ₹2,493 crore. Conversely, fees and other revenue increased by 10%, reaching ₹2,620 crore from ₹2,384 crore. Finance costs decreased by 8% to ₹745 crore, down from ₹813 crore. Total operating costs surged by 23%, increasing to ₹2,620 crore from ₹2,123 crore.
Earnings before credit costs dipped by 12% to ₹1,841 crore in Q1 FY27 from ₹2,100 crore a year ago. Impairment losses and bad debt expenses, however, fell by 30% to ₹948 crore from ₹1,352 crore. The company’s balance sheet size reached ₹69,707 crore as of June 30, 2026, compared to ₹66,328 crore on March 31, 2026.
Gross advances, represented by credit card receivables, totaled ₹58,269 crore as of June 30, 2026, compared with ₹56,926 crore at the end of March 2026. The company’s net worth increased to ₹16,463 crore as of June 30, 2026, up from ₹15,797 crore on March 31, 2026.
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Asset quality saw improvement during the quarter. Gross non-performing assets (Gross NPA) reduced to 2.04% of gross advances as of June 30, 2026, down from 3.07% a year prior. Net non-performing assets (Net NPA) were at 0.83% as of June 30, 2026, compared to 1.42% in the corresponding period the previous year.
SBI Cards and Payment Services Ltd’s shares closed at ₹618.95, down by ₹2.80, or 0.45%, on the BSE.
