SBI Cards & Payment Services Limited is a credit card and payments services provider. It is a joint venture between India’s largest public sector lender State Bank of India and the financial services division of General Electric, GE Capital.
Established in October 1998 as SBI Cards & Payment Services Private Limited, the company has its headquarters in Gurgaon, Haryana. In only 10 months of its inception, SBI Cards generated a customer base of 1 lakh credit card users, which surged to 1.5 lakh by February 2000. The company exceeded the 5 lakh customers mark by the end of 2000.
The card company reached the 1 million cardholders milestone within four years of its launch while crossing the 2 million mark in 2006. The company entered the 10 million cards club in 2019.
In December 2017, the State Bank of India and the multinational private equity major Carlyle Group acquired GE Capital’s stake in SBI Cards, later changing the company’s name to the present SBI Cards and Payments Services in August 2019.
SBI Cards is the country’s first ‘pure play credit card’ firm to be listed on National Stock Exchange (NSE) and BSE in March 2020.
The company’s market capitalisation stood at ₹72,231 crore as of December 20, 2023. SBI Cards shares have dropped nearly 10% in the last 3 years.
SBI Cards business operations
Over a period of 25 years, SBI Cards has become the second largest credit card provider in India with a customer base of 16 million. The company has a wide range of options, including super-premium cards, premium cards, travel and shopping cards, classic cards, exclusive co-branded cards as well as corporate cards.
Its card products are offered in two major categories- personal credit cards and corporate cards.
Personal credit cards
The credit cards under this category include lifestyle credit cards, reward cards, shopping cards, travel and fuel cards and banking partnership cards.
Corporate credit cards
These cards are specifically designed to meet business needs, providing higher efficiencies, achieving increased savings, and ensuring control and compliance. Some major corporate credit cards by SBI Cards include SBI Signature Corporate Card and SBI Platinum Corporate Card.
SBI Cards & Payment Services Financial Highlights
- Revenue: SBI Cards & Payment Services reported revenue of ₹19,899.63 crore in FY26 vs ₹18,072.22 crore in FY25. It showed an increase of 10.11% on a yearly basis.
- Operating Profit: SBI Cards & Payment Services reported an operating profit of ₹2,913.19 crore in FY26 vs ₹2,580.68 crore in FY25. It showed an increase of 12.88% on a year-on-year basis.
- Net Profit: SBI Cards & Payment Services reported a net profit of ₹2,166.71 crore in FY26 vs ₹1,916.41 crore in FY25. It showed an increase of 13.06% on a yearly basis.
SBI Cards & Payment Services Quarterly Result Highlights
- SBI Cards & Payment Services reported revenue of ₹4,934.50 crore in Mar 2026, compared with ₹5,127.26 crore in Dec 2025, representing a decrease of 3.76% on a quarter-on-quarter (QoQ) basis.
- SBI Cards & Payment Services reported an operating profit of ₹815.91 crore in Mar 2026, compared with ₹749.11 crore in Dec 2025, representing an increase of 8.92% on a quarter-on-quarter (QoQ) basis.
- SBI Cards & Payment Services reported a profit of ₹609.30 crore in Mar 2026, compared with ₹556.64 crore in Dec 2025, reflecting an increase of 9.46% on a QoQ basis.
- The earnings per share (EPS) of SBI Cards & Payment Services stood at ₹20.15 during Mar 2026.
