SBI Card Q2 FY27 Earnings Call Transcript Released
SBI Card's Q2 FY27 earnings call transcript is now available. The company reported a 75% year-on-year increase in PAT to ₹778 crore, driven by improved credit costs. Cards in Force grew to 2.32 crore, with over 1 million new accounts added in the quarter. Total spends reached ₹1,10,689 crore, and retail spends hit a record ₹95,299 crore.
The earnings call transcript provides detailed financial performance, strategic outlook, and management commentary on key business drivers and macroeconomic factors, which are crucial for investors and analysts.
The company reported strong financial results with a significant increase in PAT, improved asset quality, and growth in key metrics like cards in force and spends. Management also expressed confidence in future growth prospects and strategic initiatives.
SBI Cards and Payment Services Limited has made the transcript of their Q2 FY27 Earnings Call, held on October 23, 2026, available on their website and attached it for reference. The call featured insights from MD & CEO Salila Pande, CFO Rashmi Mohanty, and other management members, discussing India's resilient economic outlook, the growth of the digital payments and credit card industries, and the company's performance.
Key performance metrics highlighted include a Cards in Force growth to approximately 2.32 crore (2,32,00,000) with 8% Y-o-Y growth, and adding over 1 million new accounts in Q2 FY27, an 18% increase Y-o-Y. The company maintained its position as India's second-largest credit card issuer with an 18.5% market share in Cards in Force. Spends market share grew to 19% in FY27, with total spends reaching ₹1,10,689 crore in the quarter, a 3% Y-o-Y growth. Retail spends hit a record ₹95,299 crore, a 6% Y-o-Y increase.
Financially, revenue from operations was ₹5,141 crore (4% Y-o-Y growth), and PAT was ₹778 crore (75% Y-o-Y increase), primarily due to improved credit costs. The cost-to-income ratio was 58.7%. Receivables stood at ₹58,376 crore. The company reported strong asset quality with gross credit cost improving by 98 basis points Q-o-Q to 5.6% and gross NPA reducing to 1.9%. An additional provision of ₹30 crore was made due to macroeconomic uncertainty, bringing the total additional provision to ₹100 crore.
Management discussed strategies for future growth, including expanding into Tier 2/3 markets, deepening premiumization, optimizing credit costs, enhancing digital capabilities, and maintaining cost discipline. The company is also focusing on growing its EMI-based portfolio to manage Net Interest Margins (NIM) amidst rising funding costs. They expect retail spend growth to be in the mid-to-high teens for the full year and are working on optimizing borrowing costs and yields to maintain stable NIMs. The company has also seen an increase in interchange income due to network rate hikes.
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