SBI Card Q2 Profit Rises on Better Asset Quality
SBI Cards and Payment Services reported a higher second-quarter profit driven by improved asset quality and lower provisions. Total revenue rose as credit growth maintained strong momentum.
Xurve View
Insights:
Xurve View
SBI Cards & Payment Services posted a profit after tax of 7.78 billion rupees ($81.9 million) for the quarter ended September, driven by lower provisions. That result compares with 4.45 billion rupees in the same period of the previous year. The credit card issuer tightened credit underwriting standards over recent quarters to curb delinquencies in India.
