SBI Cards Share Price Dips 2.85%; Reports 10% PAT Growth in Q2 FY26 Results

SBI Cards and Payment Services Limited reported a steady financial performance for the quarter and half year ended September 30, 2025. The company’s total revenue grew by 13% year-on-year (YoY) to ₹5,136 crore in Q2 FY26, compared to ₹4,556 crore in the same quarter last year. Profit after tax (PAT) increased by 10% YoY to ₹445 crore from ₹404 crore in Q2 FY25, driven by higher fee income and lower finance costs.

Revenue and Profitability Performance

The company’s income growth was supported by a healthy rise in both interest and fee-based earnings. Interest income rose 9% YoY to ₹2,490 crore, while fees and commission income climbed 16% YoY to ₹2,471 crore. Finance costs declined 4% to ₹760 crore from ₹788 crore a year ago, mainly due to lower borrowing costs. Despite a slight dip in return ratios, with ROAA at 2.6% (vs. 2.7%) and ROAE at 12.1% (vs. 12.5%) in Q2 FY25, SBI Cards maintained stable profitability levels.

Business Growth Highlights

Operationally, SBI Cards reported solid growth across key business parameters. Cards-in-force rose 10% YoY to 2.15 crore as of September 2025, compared to 1.96 crore in September 2024. The company added 936,000 new accounts during the quarter, slightly higher than the 904,000 accounts added in Q2 FY25.

Total card spends witnessed a robust 31% YoY jump to ₹1,07,063 crore, reflecting strong consumer activity and festive season demand. Receivables increased 8% YoY to ₹59,845 crore. As per RBI data available till August 2025, the company’s market share stood at 19.0% in cards-in-force and 17.0% in spends, maintaining its position as the second-largest player in terms of cards-in-force and third in spends.

Balance Sheet and Asset Quality

The company’s total balance sheet size expanded to ₹69,862 crore as of September 30, 2025, compared to ₹65,546 crore as of March 31, 2025. Net advances (after provisions) rose to ₹57,856 crore, while net worth increased to ₹14,861 crore from ₹13,853 crore during the same period.

On the asset quality front, gross non-performing assets (GNPA) improved to 2.85% from 3.27% a year earlier, while net NPA stood at 1.29% versus 1.19% in Q2 FY25, reflecting prudent credit management. The capital adequacy ratio remained strong at 22.5%, with Tier 1 capital at 17.5%.

SBI Cards Share Price Performance

On October 27, 2025, SBI Cards share price opened at ₹905.00, down from its previous close of ₹928.95. At 10:28 AM, the share price of SBI Cards was trading at ₹902.45, down by 2.85% on the NSE.

Also Read: SBI Card to Revise Service Charges and Fee Structure!

Conclusion

SBI Cards delivered a stable second-quarter performance in FY26, supported by revenue growth, improved cost management, and rising consumer spends. With a robust capital position, expanding customer base, and steady asset quality, the company remains well-positioned to leverage the ongoing rise in digital and credit card transactions across India.

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