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India`s SBI Card posts Q2 profit drop as bad loan provisions rise India's SBI Cards and Payment Services reported a 33% drop in second-quarter profit on Tuesday, as bad loans write-offs and provisions rose. Profit after tax fell to 4.04 billion rupees ($48.1 million) for July-September from 6.03 billion rupees a year earlier. Indian lenders have been grappling with elevated bad loans in unsecured segments like credit card. SBI Card, backed by India's largest lender State Bank of India, said that write-offs and provisions for bad loans jumpe...
India`s SBI Card posts Q2 profit drop as bad loan provisions rise
India`s SBI Card posts Q2 profit drop as bad loan provisions rise
Source: Reuters
2024-10-29 05:01:27 pm
Reduce SBI Cards Ltd For Target Rs.725 - Emkay Global SBI Cards (SBIC), yet again, reported a miss on earnings (of 10%), with PAT at Rs5.5bn/4.1% RoA due to continued deterioration in asset quality leading to higher LLP/charge-off. Though SBIC has taken incremental measures to cut portfolio risk, NPAs are on the rise, with GNPA ratio now at 2.6% from a low 2.2% a year ago. With the revolver portfolio being relatively lower at 23% from the 40% peak pre-Covid, we do not expect a full blown asset-quality fallout akin to that during Covid, but delin...
Reduce SBI Cards Ltd For Target Rs.725 - Emkay Global
Reduce SBI Cards Ltd For Target Rs.725 - Emkay Global
Source: Emkay Global
2024-04-27 09:59:38 am
SBI Card rises on launching SBI Card MILES for Travel Enthusiasts SBI Card is currently trading at Rs. 753.65, up by 6.35 points or 0.85% from its previous closing of Rs. 747.30 on the BSE. The scrip opened at Rs. 752.35 and has touched a high and low of Rs. 755.10 and Rs. 745.25 respectively. So far 15410 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 932.35 on 13-Jun-2023 and a 52 week low of Rs. 678.80 on 14-Mar-2024. Last one week high and low of the scrip stood at Rs. 7...
SBI Card rises on launching SBI Card MILES for Travel Enthusiasts
SBI Card rises on launching SBI Card MILES for Travel Enthusiasts
Source: Accord Fintech
2024-04-24 10:51:00 am
Fintech firm BharatPe elevates Nalin Negi as CEO Fintech company BharatPe on Tuesday announced the elevation of Nalin Negi as its Chief Executive Officer (CEO). Under him as an interim CEO and CFO, BharatPe recorded 182 per cent increase in revenue from operations in FY23 and clocked October as the first EBITDA positive month. BharatPe said it will now search for a new CFO. "Negi's extensive experience in the fintech industry and the growth witnessed for BharatPe under his leadership, makes him a natural choice to lead the...
Fintech firm BharatPe elevates Nalin Negi as CEO
Fintech firm BharatPe elevates Nalin Negi as CEO
Source: IANS
2024-04-16 11:37:50 am
Neutral SBI Cards Ltd. For Target Rs.850 By Motilal Oswal Financial Service Spending growth remains healthy SBI Cards (SBICARD) reported another muted quarter as PAT missed our estimate by 8% due to high provisions (14% higher than our estimate). PAT declined 9% QoQ to INR5.49b in 3QFY24. NII grew 7% QoQ (largely inline). Margin was flat QoQ at 11.3% as an increase in yields was largely offset by an increase in CoF. The share of revolver further moderated, while EMI mix was stable. Spending growth was healthy at 41% YoY/22% QoQ, with retail spending up 35% YoY ...
Neutral SBI Cards Ltd. For Target Rs.850 By Motilal Oswal Financial Service
Neutral SBI Cards Ltd. For Target Rs.850 By Motilal Oswal Financial Service
Source: Motilal Oswal Financial Services Ltd
2024-04-09 11:20:19 am
Strong signalling impact to deter growth in consumer credit There has been a sharp growth in unsecured lending in the past few years and the unsecured personal loan portfolio of the banking system has more than doubled from Rs 6 trillion in FY19 to Rs 13 trillion currently. Credit cards have grown at a faster pace, but off of a lower base, CLSA said in a report. The RBI is indirectly telling banks to slow unsecured loans and credit cards, foreign brokerage, CLSA said in a report. The RBI, on somewhat expected lines, increased the risk-weights on...
Strong signalling impact to deter growth in consumer credit
Strong signalling impact to deter growth in consumer credit
Source: IANS
2023-11-18 12:57:49 pm
Buy SBI Cards and Payment Services Ltd For Target Rs.900 - Motilal Oswal NII, PPoP in line; elevated provisioning drags earnings Spending jumps 27% YoY * SBI Cards (SBICARD) posted PAT of INR6.03b, up 15% but a 7% miss vs. our expectations. NII grew in line at 16% YoY; however, elevated provisions dragged earnings down. * Margin contracted 12bp QoQ to 11.3% amid decreasing yield as the mix of EMI and revolver stood broadly stable. Growth in spending was healthy, with retail spending up 21% YoY while corporate spending rose 55% YoY. * GNPA ratios inched...
Buy SBI Cards and Payment Services Ltd For Target Rs.900 - Motilal Oswal
Buy SBI Cards and Payment Services Ltd For Target Rs.900 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
2023-11-13 11:58:32 am
Hold SBI Cards and Payment Services Ltd For Target Rs.865 - Emkay Global Financial SBI Cards (SBIC) reported in-line, albeit relatively moderate, PAT at Rs6bn/ROA at 4.9%, as asset quality continues to hurt, leading to elevated write-offs. Company indicates that it is keeping close track of its portfolio, while taking corrective measures to limit incremental stress. SBIC lost some market share in CIF/spends at 19.2%/17.9% in 1H from 19.7%/18.2% as of FY23, possibly due to devaluation of the high-selling cashback card. Gross receivables growth too was modest, at 20% YoY, due...
Hold SBI Cards and Payment Services Ltd For Target Rs.865 - Emkay Global Financial
Hold SBI Cards and Payment Services Ltd For Target Rs.865 - Emkay Global Financial
Source: Emkay Global Financial Services
2023-11-02 11:07:51 am
SBI Card & Reliance Retail Come Together to Roll Out Reliance SBI Card SBI Card, India’s largest pure-play credit card issuer and Reliance Retail, India’s largest retailer, have come together to launch the co-branded ‘Reliance SBI Card’. This one-of-itskind lifestyle-focused credit card offers a holistic and rewarding shopping experience to customers across segments with varied spending needs, right from mass to premium. The card enables cardholders to unlock rewards and benefits while transacting at Reliance Retail’s extensive and ...
SBI Card & Reliance Retail Come Together to Roll Out Reliance SBI Card
SBI Card & Reliance Retail Come Together to Roll Out Reliance SBI Card
Source: PR Agency
2023-11-01 10:45:42 am