HomeCompany ProfilesProfile of SBI Cards and Payment Services Limited

Profile of SBI Cards and Payment Services Limited

SBI Cards and Payment Services Limited is a leading credit card issuer in India, plays a key role in processing millions of transactions and enjoys patronage of over 1.18 Cr customers. Over the years SBI Card has made significant contribution to India’s continuously innovating digital payment ecosystem.

SBI Card has successfully evolved to fulfill fast changing consumer preferences for contactless & digital modes of transactions, further accelerated by the pandemic. This significant shift towards digital and contactless payments is being further fueled by a plethora of digital & technology initiatives, making life simple for customers.

  • Total Assets: ₹ 41,581 Cr.
  • Debt: ₹ 28,186 Cr.
  • Equity capital: ₹ 943 Cr.
  • Current assets: ₹ 1,529 Cr.
  • Current liabilities: ₹ 3,729 Cr.
  • Debt to equity: 3.16

With its wide range of proprietary and co-branded credit cards & multiple installment-based payment options, SBI Card is enabling customers to fulfill their wishes, every day. Digitization and customer centricity will continue to be SBI Card’s guiding lights for the future.

Profile of SBI Cards and Payment Services Limited

  • Sales: ₹ 12,137 Cr.
  • Operating profit: ₹ 3,484 Cr.
  • Net profit: ₹ 2,119 Cr.
  • Sales last year: ₹ 10,679 Cr.
  • EBIDT last year: ₹ 3,349 Cr.
  • Sales growth 3Years: 15.0 %

SBI Cards and Payment Services Limited, formerly known as SBI Cards and Payment Services Private Limited was incorporated on May 15, 1998 and is engaged in the business of issuing credit cards to consumers in India.

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The Company’s registered office is at Netaji Subhash Place, Wazirpur, New Delhi – 110034 and its principal place of business is at DLF Infinity Towers, Gurugram, Haryana,122002 and is domiciled in India.

The Company was incorporated as a joint venture between State Bank of India and GE Capital Mauritius Overseas Investment. On December 15, 2017, GE Capital Mauritius Overseas Investments sold its entire stake (40%) in the Company to State Bank of India (14%) and CA Rover Holdings (26%).

  • Dividend yield: 0.32 %
  • Face value: ₹ 10.0
  • ROE 5Yr: 24.0 %
  • ROCE: 11.6 %
  • ROCE 3Yr: 12.1 %
  • Return on equity: 23.0 %

The Company is a Non-Deposit accepting Systemically Important Non-Banking Financial Company (NBFC-NDSI) registered with Reserve Bank of India (RBI) vide Registration Number 14.01328 under section 45 IA of the RBI Act,1934. Accordingly, all provisions of the Reserve Bank Act 1934 and all directions, guidelines or instructions of the RBI that have been issued from time to time and are in force and as applicable to a Non-Banking Financial Company are applicable to the company.

Sbi cards and payment services ltd also acts as corporate insurance agent for selling insurance policies to credit card customers. The Company has been granted license on March 01, 2012 by the Insurance Regulatory & Development Authority (IRDA) under the Insurance Regulatory & Development Authority (Insurance brokers) regulations, 2002 to act as a corporate insurance agent, valid up to March 31, 2022.

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Second Largest Credit Card Issuer

SBI Card, a subsidiary of the State Bank of India, is the second largest credit card issuer in the country. With more than 1.18 Cr cardholders, the company offer financial access with wide range of value-added payment products and services that fulfil transactional and short-term credit requirements.

The Company focus on delivering a diverse portfolio of credit cards enables to support cashless and contactless digital payments in India while ensuring complete safety and transparency of transactions.

  • Years in Operation – 23+
  • Employees – More than 4000
  • Market share – 19.1%
  • Cards in Force – 11,822,000

SBI Card is the only listed credit card issuer in India and products are intricately crafted to provide a unique customer experience for cardholders. The Company credit card portfolio caters to individual cardholders as well as corporate clients, and includes lifestyle, rewards, travel and fuel, shopping, banking partnership cards and corporate credit cards.

Sbi cards and payment services ltd offer a wide portfolio of co-brand credit cards in partnership with several major players, across sectors such as travel and tourism, fuel, fashion, healthcare and mobility, amongst others.

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SBI Card History

SBI Card was launched in October 1998 by the State Bank of India and GE Capital. Incorporated as SBI Cards and Payment Services Private Limited (SBICPSL), SBI Card is headquartered in Gurgaon, Haryana.

In December 2017, State Bank of India and The Carlyle Group acquired GE Capital`s stake in SBI Card.The company changed its legal name to SBI Cards and Payments Services Limited in August 2019. In March 2020, SBI Card became the first pure play credit card company to list on the stock exchanges in India.

The aim of SBI Card is to offer Indian consumers access to a wide range of world-class, value-added payment products and services. The Company endeavor is to simplify the lives of our customers, employees and other important stakeholders. The company innovative products and services along with our responsible corporate citizenship practices form the framework of delivering on this promise.

Sbi cards and payment services ltd Within a short span of 10 months from inception, the company achieved a credit card customer base of 1 lakh. The Company entered the ‘1Million Card Club’ in 2002 and crossed the 2 million card base in 2005. Today, with over 12.5 million credit cards in force, the company is the second largest credit card issuer in the country.

Raveendran R
Raveendran R
Editor @ Indiancompaies.in


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