SBI Cards Announces ₹2.50 Interim Dividend, Names Salila Pande as New MD & CEO

SBI Cards and Payment Services Ltd has announced an interim dividend and a leadership change, with Salila Pande set to take over as Managing Director & CEO from April 1, 2025.

Interim Dividend of ₹2.50 Per Share

On Monday, February 17, SBI Cards declared an interim dividend of ₹2.50 per share, which is 25% of the face value of ₹10, for the financial year 2024-25. The company has set February 25, 2025, as the record date for determining shareholder eligibility for the dividend. Payments will be processed by March 18, 2025, ensuring timely distribution to shareholders.

Salila Pande to Succeed Abhijit Chakravorty as MD & CEO

In a major leadership transition, SBI Cards’ board has approved the appointment of Salila Pande as the new Managing Director & CEO. She will assume the role on April 1, 2025, following the retirement of the current MD & CEO, Abhijit Chakravorty, on March 31, 2025. Pande’s appointment is subject to shareholder and regulatory approvals.

In a regulatory filing, SBI Cards stated: “… under the superannuation of Abhijit Chakravorty from the services of State Bank of India w.e.f. March 31, 2025, approved the appointment of Smt. Salila Pande as Managing Director & CEO (nominated by State Bank of India) of the company with effect from April 1, 2025, for 2 years, subject to necessary approval(s) as may be required including approval of the shareholders of the company.”

Pande’s Extensive Banking Experience

Salila Pande is currently serving as Chief General Manager at the State Bank of India (SBI) and has been associated with the banking giant since 1995 when she joined as a probationary officer. Over the years, she has gained significant expertise in international banking, retail banking, and risk management.

Pande has held several key positions within SBI, including Vice President — Mid Office at SBI Singapore, Deputy General Manager (Business and Operations) in Delhi, and President & CEO of SBI California, a foreign subsidiary of the bank. Her extensive experience positions her well to lead SBI Cards into its next phase of growth.

Strategic Implications

The announcement of both the interim dividend and the leadership transition reflects SBI Cards’ commitment to delivering shareholder value while ensuring continuity in leadership. The appointment of an experienced banker like Pande is expected to bolster the company’s strategic direction, particularly in an increasingly competitive financial services landscape.

Stock Performance

On February 18, 2025, SBI Cards and Payment Services share price traded 0.86% lower at ₹846.45 at 9:33 AM (IST). SBI Cards and Payment Services’s share price reached a 52-week high of ₹871.90, and a 52-week low of ₹649. As per BSE, the total traded volume for the stock stood at 7307 shares with a turnover of ₹62 lakhs.

At the current price, SBI Cards and Payment Services shares are trading at a price-to-earnings (P/E) ratio of 39.73x, based on its trailing 12-month earnings per share (EPS) of ₹21.49, and a price-to-book (P/B) ratio of 6.21, according to exchange data.

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