SBI Card Q4 FY’25 Revenue Rises To ₹4,832 Cr; PAT At ₹534 Cr, Up 39% QoQ, Down 19% YoY

SBI Cards and Payment Services Limited reported an 8% YoY increase in total revenue at ₹4,832 crore for the quarter ended March 31, 2025. The company’s net profit (PAT) stood at ₹534 crore, up 39% sequentially from Q3 FY’25, but down 19% YoY due to higher credit costs and impairment provisions.

Key Business Highlights (Q4 FY’25):

• New accounts opened: 1.109 million vs 1.029 million in Q4 FY’24

• Cards-in-force grew 10% YoY to 2.08 crore

• Spends rose 11% YoY to ₹88,365 crore

• Receivables increased to ₹55,840 crore, up 10% YoY

• Market share (as of Feb’25): 18.9% in card-in-force (up from 18.6%), 15.6% in spends (down from 17.8%)

Financial Performance (Q4 FY’25):

• Interest income up 13% to ₹2,415 crore

• Fee and commission income grew modestly by 2% to ₹2,259 crore

• Operating costs rose 8% to ₹2,073 crore

• Credit costs surged 32% to ₹1,245 crore

• ROAA stood at 3.4% vs 4.7% YoY

• ROAE declined to 15.5% vs 22.1% in Q4 FY’24

• Capital Adequacy Ratio improved to 22.9% (Tier I at 17.5%)

Annual Highlights (FY’25 vs FY’24):

• Total income up 7% to ₹18,637 crore

• EBCC (Earnings before credit costs) rose 14% to ₹7,452 crore

• Impairment losses and bad debts surged 48% to ₹4,872 crore

• Net profit declined 20% to ₹1,916 crore

• Operating cost efficiency: Operating costs declined by 4% to ₹8,007 crore

Balance Sheet & Asset Quality (as of March 31, 2025):

• Total assets at ₹65,546 crore (up from ₹58,171 crore)

• Net worth rose to ₹13,853 crore from ₹12,156 crore

• GNPA increased to 3.08% (from 2.76%); NNPA rose to 1.46% (from 0.99%)

Despite pressure from higher credit costs and asset quality deterioration, SBI Card maintained strong capital buffers and continued growth in customer acquisition, spends, and receivables. The company’s 24% YoY increase in net worth and steady improvement in Tier I capital suggest financial stability in a competitive payments landscape.