SBI Card

SBI Cards & Payment Services Limited
Company typeCredit card company
ISININE018E01016
IndustryPayment card industry
FoundedMay 1998 (1998-05)[1]
Headquarters
Gurugram
,
India
Area served
India
Key people
Salila Pande
(MD & CEO)[2]
ProductsCredit cards
Services
  • Credit Cards
  • Payments
Revenue ₹17,483 crore (US$2.1 billion)(FY24)[3]
₹2,408 crore (US$280 million)(FY24)[3]
Total assets ₹58,171 crore (US$6.9 billion)(FY24)[3]
Total equity ₹12,084 crore (US$1.4 billion) (FY24) [3]
Websitewww.sbicard.com

SBI Cards and Payment Services Limited, also referred to as SBI Card is India’s second-largest credit card issuer, and also the largest pure-play credit card issuer. Headquartered in Gurgaon, Haryana, SBI Card is publicly listed on BSE and NSE. The company has a wide range of value-added payment products and services, with over 20 million cards in force, as of March 2025.[4] In April 2025, the company announced Ms. Salila Pande as the company's Managing Director and Chief Executive Officer.[5]

SBI Cards & Payment Services Limited, previously known as SBI Cards & Payment Services Private Limited, is a credit card company and payment provider in India. SBI Card was launched in May 1998 by the State Bank of India and GE Capital. In December 2017, the State Bank of India and The Carlyle Group[6] acquired a stake in the company. SBI Card is headquartered in Gurugram, Haryana/Delhi NCR. DLF Infinity Towers, Tower C, 12th Floor, Block 2, Building 3, DLF Cyber City, Gurgaon -122002(Haryana) India. The company is the only publicly listed pure-play credit card issuer in India.[7]

In 2022, The Carlyle Group divested its entire stake in SBI Card, making the State Bank of India the majority stakeholder.[8] On April 1, 2025, SBI Cards and Payment Services Limited appointed Salila Pande as its Managing Director and Chief Executive Officer, succeeding Abhijit Chakravorty upon his retirement on March 31, 2025.[9]

History

SBI Card initiated its operations in May 1998 under the umbrella of State Bank of India, India's largest bank, and GE Capital. The objective of the new initiative was to transform the digital payments space in India. In December 2017, State Bank of India and The Carlyle Group acquired GE Capital’s stake in the company. SBI Card was listed on Indian Stock Exchanges bourses in March 2020, following a successful IPO. Subsequently, in 2022 the Carlyle Group dissolved its shareholding, making State Bank of India as the majority stakeholder in the company.[10]

Products and services

SBI Card provides a diverse range of credit cards tailored to meet the needs of various customer segments, including lifestyle, rewards, travel, fuel, and corporate clients. These credit cards are categorised into five main categories to match the specific lifestyle requirements of the cardholders’ preferences: super premium cards, premium cards, travel and shopping cards, classic cards, exclusive co-branded cards, as well as corporate cards. Some key core credit cards offered by the company include, AURUM, SBI Card Elite, SBI Card PULSE,[11] Cashback SBI Card,[12] SBI Card MILES,[13] SBI Card Prime SimplyCLICK SBI Card, SimplySave SBI Card, among others.

Market Position

As per RBI data, SBI Card has a cards in force market share of 18.9 % during FY’25. The company has strengthened the credit card portfolio and pursue sustainable profitable growth to garner position in India’s steadily growing credit card market. SBI Card has maintained robust capital adequacy and has focused on improving operational efficiencies to sustain profitability in a competitive market. The company has received the highest rating of “A1+” and “AAA” from credit rating agencies.[14]

Partnerships

SBI Card has entered into several strategic partnerships to widen reach and enhance value for customers. The company has partnerships with many major players across various segments, including Air India, Apollo,[15] BPCL,[16] IRCTC, Singapore Airlines, Titan,[17] Tata Digital, Reliance,[18] Landmark and Paytm among others. SBI Card has introduced several industry-first co-branded cards and has an expansive merchant alliances program.

See also

References

  1. ^ "SBI Card to focus on "hyper-personalisation" for improved customer engagement: Rama Mohan Rao Amara - The Hindu BusinessLine".
  2. ^ "SBI Card appoints Salila Pande as new MD & CEO". BusinessLine. 1 April 2025. Retrieved 1 April 2025.
  3. ^ a b c d "Outcome of Board Meeting" (PDF).
  4. ^ "SBI Card surpasses milestone of 20 million credit cards in circulation". 7 December 2024.
  5. ^ Verma, Prachi (1 April 2025). "Salila Pande takes charge as MD and CEO of SBI Card". The Economic Times. ISSN 0013-0389. Retrieved 20 December 2025.
  6. ^ "Company Overview of SBI Cards & Payment Services Private Limited" Bloomberg Businessweek. Retrieved 10 January 2013.
  7. ^ Livemint (9 June 2022). "SBI Cards top stock pick after RBI allows linking of credit cards with UPI". mint. Retrieved 17 July 2022.
  8. ^ "Carlyle to sell entire 3% SBI Cards stake". The Times of India. 5 April 2022. Retrieved 1 April 2025.
  9. ^ "SBI Card appoints Salila Pande as MD & CEO from April 1". The Economic Times. 17 February 2025. Retrieved 1 April 2025.
  10. ^ "About Us | SBI Card". www.sbicard.com. Retrieved 20 December 2025.
  11. ^ "Tata Neu SBI Credit Card launched: Key features and benefits explained". CNBCTV18. 17 April 2025. Retrieved 20 December 2025.
  12. ^ "SBI Card launches 'Cashback SBI Card' with 5% cashback for customers - BusinessToday". Business Today. 1 September 2022. Retrieved 20 December 2025.
  13. ^ "SBI Card Miles credit cards with three variants launched: 7 must-know features like annual fees, airport lounge access, rewards, miles". The Economic Times. 25 April 2024. ISSN 0013-0389. Retrieved 20 December 2025.
  14. ^ "SBI Card Q4 FY'25 Revenue Rises To ₹4,832 Cr; PAT At ₹534 Cr, Up 39% QoQ, Down 19% YoY". Indian PSU | Public Sector Undertaking News. 26 April 2025. Retrieved 20 December 2025.
  15. ^ "SBI Card and Apollo HealthCo launch co-branded health-focused credit card: A look at features". CNBCTV18. 15 May 2025. Retrieved 20 December 2025.
  16. ^ "BPCL, SBI Card launch co-branded RuPay contactless credit card". The Economic Times. 23 September 2021. ISSN 0013-0389. Retrieved 20 December 2025.
  17. ^ "SBI Card and Titan Launch Titan SBI Card; here's how cardholders can avail benefits worth Rs 2 lakh per year". Moneycontrol. Archived from the original on 6 April 2024. Retrieved 20 December 2025.
  18. ^ "SBI Card partners Reliance Retail for co-branded Rupay Credit Card". The Times of India. 1 November 2023. ISSN 0971-8257. Retrieved 20 December 2025.
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