Adani Enterp. 1919.85↓-5.10(-0.26%)
Adani Ports 681.50↑0.20(0.03%)
Apollo Hospitals 4490.80↓-22.90(-0.51%)
Asian Paints 2899.55↓-2.80(-0.10%)
Axis Bank 870.65↑10.65(1.24%)
B P C L 361.10↑3.50(0.98%)
Bajaj Auto 4498.00↑66.05(1.49%)
Bajaj Finance 6249.15↓-30.95(-0.49%)
Bajaj Finserv 1349.05↓-5.60(-0.41%)
Bharti Airtel 790.20↓-9.10(-1.14%)
Britannia Inds. 4511.05↓-42.50(-0.93%)
Cipla 917.70↑9.65(1.06%)
Coal India 236.10↑3.00(1.29%)
Divi's Lab. 3253.70↓-14.20(-0.43%)
Dr Reddy's Labs 4950.40↑20.55(0.42%)
Eicher Motors 3356.15↑55.05(1.67%)
Grasim Inds 1739.55↑19.25(1.12%)
H D F C 2790.00↑14.40(0.52%)
HCL Technologies 1067.55↑3.45(0.32%)
HDFC Bank 1687.25↓-0.35(-0.02%)
HDFC Life Insur. 544.50↑14.75(2.78%)
Hero Motocorp 2495.90↓-62.70(-2.45%)
Hind. Unilever 2451.70↓-5.60(-0.23%)
Hindalco Inds. 446.15↑10.05(2.30%)
ICICI Bank 922.10↑4.45(0.48%)
IndusInd Bank 1150.90↓-1.90(-0.16%)
Infosys 1277.45↑24.70(1.97%)
ITC 424.45↓-1.10(-0.26%)
JSW Steel 737.90↑12.60(1.74%)
Kotak Mah. Bank 1921.15↓-16.90(-0.87%)
Larsen & Toubro 2384.45↑20.05(0.85%)
M & M 1237.30↑10.40(0.85%)
Maruti Suzuki 8776.85↑187.30(2.18%)
Nestle India 21745.85↓-15.55(-0.07%)
NTPC 175.60↑3.60(2.09%)
O N G C 164.25↑5.30(3.33%)
Power Grid Corpn 240.10↑2.85(1.20%)
Reliance Industr 2441.05↑20.55(0.85%)
SBI Life Insuran 1150.90↑10.80(0.95%)
St Bk of India 575.30↓-3.00(-0.52%)
Sun Pharma.Inds. 973.05↓-14.60(-1.48%)
Tata Consumer 779.60↑15.75(2.06%)
Tata Motors 480.25↓-4.70(-0.97%)
Tata Steel 110.30↑2.35(2.18%)
TCS 3219.40↓0.15(0.00%)
Tech Mahindra 1053.45↑29.75(2.91%)
Titan Company 2663.85↑22.00(0.83%)
UltraTech Cem. 7456.60↓-99.60(-1.32%)
UPL 752.50↑12.20(1.65%)
Wipro 388.35↑3.35(0.87%)

Brokerages share mixed views on SBI Cards and Payment Services

While cost of funds and credit costs are seen rising, growth in business is estimated to be good

Devangshu Datta

Premium

SBI Card

3 min read Last Updated : May 02 2023 | 8:43 PM IST

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The only listed credit card outfit, SBI Cards and Payment Services (SBI Cards), delivered mildly encouraging results with some points of concern in the January-March quarter of the 2022-23 financial year (Q4FY23).

The profit after tax (PAT) was up 3 per cent year-on-year (YoY) (17 per cent quarter-on-quarter or QoQ) to Rs 600 crore. There was a rise in non-interest income by 32 per cent YoY (10 per cent QoQ) to Rs 2,090 crore due to 25 per cent YoY rise in fee income (85 per cent of total) and 113 per cent rise in business development income (12 per cent of total).

The NII (net interest income) grew 17 per cent YoY to Rs 1,200 crore, but higher cost of funds led to lower NIM (net interest margin) assessed at 11 per cent. Guidance indicates further rise in cost of funds is likely in Q1FY24 but it can stabilise or fall in the second half (H2), if the Reserve Bank of India or RBI holds rates.