SBI Cards Q3 FY26 PAT jumps 45% YoY to ₹557 crore; total revenue rises 12%
Strong growth in card spends, improved asset quality and lower impairments drive robust Q3 performance; ROAA improves to 3.2%
SBI Cards and Payment Services Limited on Wednesday reported a 45% year-on-year rise in profit after tax (PAT) to ₹557 crore for the quarter ended December 31, 2025 (Q3 FY26), compared with ₹383 crore in the corresponding quarter last year.
The company’s total income increased 12% YoY to ₹5,353 crore, supported by strong growth in card spends, higher fee income and lower impairment charges.
During the quarter, total spends surged 33% to ₹1,14,702 crore, while cards-in-force grew 8% to 2.18 crore. Receivables stood at ₹57,213 crore, up 4% YoY. SBI Cards maintained its industry position as #2 in cards-in-force and #3 in spends, with market share improving to 18.8% in cards-in-force as of December 2025.
Operationally, interest income rose 6% to ₹2,536 crore, while fees and other revenue grew 17% to ₹2,591 crore. Finance costs declined 5% to ₹785 crore, even as operating expenses increased 23% to ₹2,597 crore amid continued investments in customer acquisition and digital capabilities.
Importantly, impairment on financial instruments fell 7% to ₹1,222 crore, helping profit before tax jump 45% YoY to ₹749 crore.
Return ratios also strengthened, with ROAA improving to 3.2% from 2.4% and ROAE rising to 14.7% from 11.5% a year ago.
On the balance sheet front, total assets stood at ₹67,365 crore as of December 31, 2025, compared with ₹65,546 crore as of March 31, 2025. Net worth increased to ₹15,424 crore.
Asset quality showed improvement, with gross NPAs declining to 2.86% from 3.24% a year earlier, while net NPAs stood at 1.28%.
Capital adequacy remained comfortable, with CRAR at 24.4% and Tier I capital at 19.1%, well above regulatory requirements.
SBI Cards continues to enjoy the highest credit ratings from both CRISIL and ICRA, with AAA/Stable for long term and A1+ for short term instruments.
