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For the full year,net profit declined 20.41% to Rs 1916.41 crore in the year ended March 2025 as against Rs 2407.88 crore during the previous year ended March 2024. Sales rose 6.51% to Rs 18072.22 crore in the year ended March 2025 as against Rs 16968.42 crore during the previous year ended March 2024.
The company’s interest income and fees & other revenue for the period under review were Rs 2,415 crore (up 13% YoY) and Rs 2,259 crore (up 2% YoY), respectively. Net interest margin improved by 29 basis points YoY to 11.2% in Q4 FY25.
Operating Cost rose by 8% YoY to Rs 2,073 crore in the fourth quarter. Interest costs added up to Rs 795 crore (up 10% YoY) in the quarter ended on 31 March 2025.
Impairment on financial instruments aggregated to Rs 1,245 crore in Q4 FY25, up 32% YoY.
Profit before tax in Q4 FY25 stood at Rs 719 crore, down by 19% from Rs 888 crore in Q4 FY24.
The company’s New accounts volume at 1,109K accounts in Q4 FY25 as against 1,029K accounts in Q4 FY24, up 8% YoY.
Card-in-force grew by 10% YoY at 2.08 crore as of Q4 FY25. For the fourth quarter, spends and receivables were Rs 88,365 crore (up 11% YoY) and Rs 55,840 crore (up 10% YoY), respectively.
For the financial year ended 31 March 2025, SBI Cards’ profit after tax decreased by 20% to Rs 1,916 crore from Rs 2,408 crore in FY24. Total income increased by 7% YoY to Rs 18,637 crore in FY25.
As per RBI Industry report available till Feb 2025, the company’s market share for FY25 for card-in-force was 18.9% (up 30 basis points YoY) and for spends was 15.6% (down 220 basis points).
Total balance sheet size as of 31 March 2025 was Rs 65,546 crore as against Rs 58,171 crore as of 31 March 2024.
Total gross advances (credit card receivables) as of 31 March 2025 were Rs 55,840 crore, as against Rs 50,846 crore as of 31 March 2024.
The gross non-performing assets were at 3.08% of gross advances as of 31 March 2025 as against 2.76% as of 31 March 2024. Net non-performing assets were at 1.46% as of 31 March 2025 as against 0.99% as of 31 March 2024.
Net worth as of 31 March 2025 has been Rs 13,853 crore as against Rs 12,156 crore as of 31 March 2024.
As of 31 March 2025, the company’s CRAR was 22.9% compared to 20.5% as of 31 March 2024. The Tier I capital was 17.5% as of 31 March 2025 compared to 16.5% as of 31 March 2024.
SBI Cards and Payment Services is a non-banking financial company that offers extensive credit card portfolio to individual cardholders and corporate clients which includes lifestyle, rewards, travel & fuel, and banking partnerships cards along with corporate cards covering all major cardholders’ segments in terms of income profile and lifestyle. The brand has a wide base of around 2.08 crore cards in force, as of 31 March 2025.
SBI Cards & Payment Services (SBI Card) in partnership with Tata Digital announced the launch of Tata Neu SBI Card today. This one-of-its-kind lifestyle co branded credit card has been designed to provide a premium and highly rewarding shopping experience for discerning customers across segments. This co-branded card has been launched in two variants, Tata Neu Infinity SBI Card and Tata Neu Plus SBI Card. Customers earn rewards on all spends, whether online or in-store and across domestic and international merchant outlets in the form of NeuCoins that are redeemable on the Tata Neu app.
With this launch, Tata Neu SBI Card customers can now enjoy a range of benefits for an enhanced shopping experience. Cardholders can enjoy up to 10% rewards on spends with Tata Neu Infinity SBI Card and up to 7% rewards on spends with Tata Neu Plus SBI Card in the form of NeuCoins. These are credited monthly to the cardholder's NeuPass account within the Tata Neu app. These NeuCoins can be redeemed across a wide range of products and services, including grocery, travel bookings, jewelry, fashion, electronics and pharmacy services both online and instore, addressing varied lifestyle needs of customers.
The co-branded card also offers rewards on everyday payments, providing up to 1.5% back in NeuCoins (with the Rupay variant) on UPI transactions and up to 5% back on bill payments made through Tata Neu. Customers can enroll for the card digitally via SBI Card SPRINT, by visiting the SBI Card website SBI Card.com, and can also opt to enroll offline by visiting SBI Card retail kiosks at select Croma stores.