October 2023: The Board of Directors of SBI Cards and Payment Services Limited approved the Company’s results for the quarter and half year ended September 30, 2023, at their meeting held on Friday, October 27, 2023.
Performance Highlights Q2 FY24
Business Highlights
Profit & Loss Account for the Quarter ended September 30, 2023
Profit & Loss Account for the half year ended September 30, 2022
Balance Sheet as of September 30, 2023
Asset Quality
The Gross non-performing assets were at 2.43% of gross advances as of September 30, 2023, as against 2.14% as of September 30, 2022. Net non-performing assets were at 0.89% as of September 30, 2023, as against 0.78% as of September 30, 2022.
Capital Adequacy
As per the capital adequacy norms issued by the RBI, Company’s capital to risk ratio consisting of Tier I and Tier II capital should not be less than 15% of its aggregate risk weighted assets on - balance sheet and of risk adjusted value of off-balance sheet items. As of September 30, 2023, Company’s CRAR was 23.3% compared to 23.2% as of September 30, 2022.
The Tier I capital in respect of an NBFC-ND-SI, at any point of time, can’t be less than 10%. Company’s Tier I capital was 20.8% as of September 30, 2023, compared to 20.2% as of September 30, 2022.
About SBI Card
SBI Cards and Payment Services Limited (“SBI Card”) is a non-banking financial company that offers extensive credit card portfolio to individual cardholders and corporate clients which includes lifestyle, rewards, travel & fuel, and banking partnerships cards along with corporate cards covering all major cardholders’ segments in terms of income profile and lifestyle. The brand has a wide base of around 18 MM+ cards in force as of Q2 FY24. It has diversified customer acquisition network that enables to engage prospective customers across multiple channels. SBI Card is a technology driven company.
The Company is listed on National Stock Exchange (“NSE”) and The Bombay Stock Exchange (“BSE”).
P.S. The brand name of the company is ‘SBI Card’ and it is registered in the name of ‘SBI Cards and Payment Services Limited’. The company is trading under the entity name ‘SBICARD’ on stock exchanges.
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