What was SBI Cards's revenue in Q4 FY26?

SBI Cards reported revenue of ₹5,187 Cr in Q4 FY26, a +7% change year-over-year.

Did SBI Cards management deliver on previous promises?

Scorecard data is being built as historical quarters are processed.

SBICARDSANDPAYMENT Diversified 2026-04-??

SBI Cards and Payment Services Ltd — Q4 FY26

Q: What guidance did SBI Cards management give?

Card acquisition of 9 lakh to 1 million per quarter: Management expects to maintain similar quarterly card acquisition run-rate in FY27, focusing on high-quality customers.

SBI Cards reported Q4 FY26 revenue of ₹5,187 crore (+7% YoY) and PAT of ₹609 crore (+14% YoY), driven by strong spend growth (total spends ₹1.15 trillion, +31% YoY) and improving asset quality.

Revenue ₹5,187 Cr +7%

EBITDA —

PAT ₹609 Cr +14%

EBITDA Margin —

Duration 54 min

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2-Minute Summary

✦ AI-Generated from Full Transcript

SBI Cards reported Q4 FY26 revenue of ₹5,187 crore (+7% YoY) and PAT of ₹609 crore (+14% YoY), driven by strong spend growth (total spends ₹1.15 trillion, +31% YoY) and improving asset quality. Gross credit cost improved 55bps QoQ to 7.7%, and NPA stock reduced by ₹268 crore QoQ. Management guided for calibrated card acquisition of 9 lakh to 1 million per quarter and expects credit cost to moderate further in FY27. However, receivables growth slowed to just 2% YoY, and the cost-to-income ratio remained elevated at 57.2% due to higher corporate spends. Revolver rates are expected to trend slightly downward, pressuring NIM. Key risk: geopolitical uncertainty could derail credit cost improvement and asset quality.

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Geopolitical uncertainty impacting credit costs

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Quarter Snapshot

Total Spends (Q4) ₹1.15T

+31% YoY

Total card spends in Q4 FY26 exceeded ₹1.15 trillion, setting a new quarterly record.

Cards-in-Force Market Share 18.6%

flat

SBI Cards maintained its position as the second largest issuer with 18.6% market share as per RBI March 2026 data.

New Account Additions (Q4) 917,000

flat

Added 9.17 lakh new accounts in Q4, in line with guided range of 9 lakh to 1 million.

Gross Credit Cost 7.7%

-55bps QoQ

Gross credit cost improved 55 basis points quarter-over-quarter to 7.7%, continuing the reducing trend.

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Guidance and risk preview

Top guidance Card acquisition of 9 lakh to 1 million per quarter

Management expects to maintain similar quarterly card acquisition run-rate in FY27, focusing on high-quality customers.

Top risk Geopolitical uncertainty impacting credit costs

Management highlighted that geopolitical tensions could worsen macroeconomic conditions and affect asset quality, potentially slowing credit cost m...

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