The stock was trading 1.96% higher at ₹663.75 on the NSE at 2:03 pm. It opened at ₹654 and touched an intraday high of ₹664.80. The stock has gained 7.3% over the past month, but remains down around 20% so far this year.
SBI Card reported spends of ₹39,592 crore in July, up 21.6% year-on-year. However, spends declined 3.6% month-on-month from ₹41,077 crore in June.
The company added around 1.83 lakh cards during July, taking cards outstanding to 2.28 crore. Net card additions were 2.7 times higher than the year-ago period, pointing to stronger sourcing and improving risk appetite among issuers.
On the usage front, SBI Card recorded 7% year-on-year volume growth, while its outstanding market share remained stable. Its spending market share declined 140 basis points month-on-month to 19%.
In the previous quarter, SBI Cards and Payment Services Ltd reported a 19.5% year-on-year increase in net profit to ₹664.4 crore in Q1 FY27, compared with ₹556 crore in the year-ago period.
The company’s total revenue rose 3% year-on-year to ₹5,205 crore from ₹5,035 crore in Q1 FY26. Net interest income (NII) remained broadly stable at ₹1,676 crore, down marginally by 0.3% from ₹1,681 crore a year earlier.
Industry growth remains healthy
The broader credit card industry added 12.7 lakh cards in July, marking the third consecutive month with more than 10 lakh new additions.
Industry spends stood at ₹2.08 lakh crore, rising 7.8% year-on-year, but declining around 3.5% month-on-month.
Also Read: India adds more than a million new cards for a third month in a row
Analysts at JPMorgan said, “Improving net card additions continue to underscore a pick-up in sourcing with an improving risk appetite at issuers.”
While new card additions remain robust, spending per card has started to moderate, a trend that comes amid shrinking rewards.
For SBI Card, however, the July numbers point to continued outperformance on a year-on-year basis, even as the sequential moderation in spending remains a factor to watch.
