Key Financial Highlights

Profit & Loss (₹ Crore)

  • Total Income: ₹5,205 Cr (0% QoQ, 3% YoY)
  • Revenue from Operations: ₹5,041 Cr (2% QoQ, 3% YoY)
  • Interest Income: ₹2,421 Cr (2% QoQ, -3% YoY)
  • Fees & Other Revenue: ₹2,620 Cr (3% QoQ, 10% YoY)
  • Other Income: ₹165 Cr (-35% QoQ, 4% YoY)
  • Interest Cost: ₹745 Cr (4% QoQ, -8% YoY)
  • Operating Cost: ₹2,620 Cr (2% QoQ, 23% YoY)
  • Earning Before Credit Cost: ₹1,841 Cr (-4% QoQ, -12% YoY)
  • Impairment on Financial Instruments: ₹948 Cr (-14% QoQ, -30% YoY)
  • PBT: ₹893 Cr (9% QoQ, 19% YoY)
  • PAT: ₹664 Cr (9% QoQ, 20% YoY)

Key Metrics

  • Cost of Funds (COF): 6.5% (13 bps QoQ, -59 bps YoY)
  • NIM: 10.8% (-28 bps QoQ, -41 bps YoY)
  • Cost to Income: 58.7% (149 bps QoQ, 846 bps YoY)
  • Credit Cost: 6.5% (-116 bps QoQ, -301 bps YoY)
  • ROA: 3.9% (26 bps QoQ, 51 bps YoY)
  • ROAE: 16.5% (89 bps QoQ, 72 bps YoY)

Portfolio Growth

Business Metrics

  • Retail Spends: ₹94,033 Cr (5% QoQ, 17% YoY)
  • Corporate Spends: ₹24,442 Cr (4% QoQ, 125% YoY)
  • New Accounts: 1.04 million (lacs) in Q1 FY27
  • Receivables: ₹58,269 Cr (3% YoY growth)
  • IBNEA: ~55% of Overall Receivables

Spending Insights

  • Online Spend %: Increased YoY (specific percentage not quantified)
  • UPI Spends on Rupay Cards: Over 13% growth Q1 FY27 vs Q4 FY26
  • Top 5 UPI Spend Categories: Departmental Stores & Grocery, Fuel, Utilities, Restaurant, Apparel

Asset Quality

Credit Cost Breakdown (₹ Crore)

  • Gross Credit Cost: ₹948 Cr (-14% QoQ, -30% YoY)
  • Gross Write off: ₹1,013 Cr (-12% QoQ, -21% YoY)
  • Provision: ₹(65) Cr (38% QoQ, -191% YoY)
  • Recoveries: ₹157 Cr (-17% QoQ, 0% YoY)
  • Net Credit Cost: ₹791 Cr (-13% QoQ, -34% YoY)

Asset Quality Ratios

  • Gross Credit Cost %: 6.5% (-116 bps QoQ, -301 bps YoY)
  • Gross Write off %: 7.0% (-104 bps QoQ, -206 bps YoY)
  • Provision %: -0.5% (-12 bps QoQ, -96 bps YoY)
  • Net Credit Cost %: 5.5% (-91 bps QoQ, -299 bps YoY)
  • PCR %: 59.9% (230 bps QoQ, 553 bps YoY)
  • ECL %: 3.1% (8 bps QoQ, -39 bps YoY)
  • GNPA %: 2.04% (-36 bps QoQ, -102 bps YoY)
  • NNPA %: 0.83% (-21 bps QoQ, -59 bps YoY)

Provisioning Notes

  • Additional provision of ₹220 Cr as of March 31, 2026, of which ₹180 Cr utilized for Annual Review and Refresh of the ECL Model in Q1 FY27
  • Provision in Q1 FY27 lower by ₹135 Cr due to improved portfolio mix (₹65 Cr written back, ₹70 Cr retained)

Portfolio Composition

  • Stage 1: 94.4% of receivables
  • Stage 2: 3.6% of receivables (30-89 DPD and High Risk, Overlimit and Linked Accounts)
  • Stage 3: 2.0% of receivables (90-179 DPD and Settled, Restructured, Deceased and Linked Accounts)

Borrowings & Capital Adequacy

Borrowings Mix

  • WCDL: 62% in Q1 FY27
  • CP: 14% in Q1 FY27
  • NCD: 24% in Q1 FY27
  • TL: Not specified percentage

Capital Position

  • CAR: 25%+ (comfortable level)
  • Daily weighted average COF: Up by 3 bps QoQ

Credit Ratings

  • Short Term: A1+ by CRISIL & ICRA
  • Long Term: AAA/Stable by CRISIL & ICRA

Shareholders Information

Top Shareholders as of June 30, 2026

1. Life Insurance Corporation Of India - P & Gs Fund: 4.11%

2. Icici Prudential Large & Mid Cap Fund: 2.60%

3. Icici Prudential Multi-Asset Fund: 2.17%

4. Life Insurance Corporation Of India: 1.98%

5. Government Pension Fund Global: 1.30%

6. Nippon Life India Trustee Ltd-A/C Nippon India Multi Cap Fund: 0.92%

7. Icici Prudential India Opportunities Fund: 0.80%

8. Tata Indian Opportunities Fund: 0.59%

9. Icici Prudential Banking And Financial Services Fund: 0.56%

10. Nippon Life India Trustee Ltd-A/C Nippon India Large Cap Fund: 0.49%

Balance Sheet (₹ Crore)

Assets (June 2026)

  • Loans (Net of Provisions): ₹56,392
  • Cash & Bank Balances: ₹3,983
  • Investments: ₹6,686
  • All other Financial Assets: ₹655
  • Total Financial Assets: ₹67,716
  • PP&E, Intangible & Right of use assets: ₹211
  • Current & Deferred Tax: ₹464
  • All other non-financial Assets: ₹1,317
  • Total non-financial Assets: ₹1,991
  • Total Assets: ₹69,707

Liabilities and Equity (June 2026)

  • Equity Share Capital: ₹952
  • Other Equity: ₹15,440
  • Total Equity: ₹16,391
  • Borrowings: ₹47,176
  • All other financial liabilities: ₹4,112
  • Total financial liabilities: ₹51,288
  • Provisions: ₹844
  • Other non-financial liabilities: ₹1,184
  • Total non-financial liabilities: ₹2,028
  • Total liabilities and equity: ₹69,707

Recent Business Developments

Marketing Initiatives

  • Pulse Card Promotion in Bengaluru: Three-week advertising campaign using OOH transit media & corporate park branding
  • SBI Card Apple Campaign: Continued partnership offering up to ₹7,000 instant discount on Apple products
  • BPCL SBI Card: Crossed 5 million cards milestone

Product Enhancements

  • Travel Bookings on Mobile App: Introduced flight, hotel, and bus ticket bookings through E-Store with partners Ixigo, Yatra, and AbhiBus