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Neutral SBI Cards and Payment Services Ltd For Target Rs.750 By Motilal Oswal Financial Services Ltd Asset quality pain continues; margins contract further Guides for elevated credit cost in the near term * SBI Cards (SBICARD) reported a sharp miss on PAT (31% miss) at INR4.04b. * Margins contracted 32bp QoQ to 10.6%. The share of the revolver mix declined marginally to 23%, while the EMI mix stood at 37% (38% in 1QFY25). * Spends grew 3.4% YoY/6.2% QoQ after a 3.2% QoQ dip in 1Q, as corporate spends saw a mild pick-up while retail continues to be healthy at 24% Yo...
Neutral SBI Cards and Payment Services Ltd For Target Rs.750 By Motilal Oswal Financial Services Ltd
Neutral SBI Cards and Payment Services Ltd For Target Rs.750 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-11-13 12:03:07 pm
Reduce SBI Cards & Payment Services Ltd For Target Rs.651 By Geojit Financial Services Ltd Profitability muted; asset quality weakens SBI Cards & Payment Services Ltd (SBI Cards) is India’s leading issuer of credit cards. The company offers a wide range of value-added payment products and services. It operates in more than 130 cities in the country. * In Q1FY24, net interest income (NII) grew 19.7% YoY to Rs. 1,476cr; net interest margin (NIM) declined 60bps YoY to 10.9% and remained stable on a sequential basis. * Asset quality deteriorated, as GNPA and NNPA rat...
Reduce SBI Cards & Payment Services Ltd For Target Rs.651 By Geojit Financial Services Ltd
Reduce SBI Cards & Payment Services Ltd For Target Rs.651 By Geojit Financial Services Ltd
Source: Geojit Financial Services Ltd
2024-08-10 10:15:14 am
Neutral SBI Cards and Payment Services Ltd For Target Rs.800 By Yes Securities Slower card addition, higher credit cost and lower RoA/RoE SBI Card delivered an in-line PPOP but 7% miss on PAT owing to higher credit cost. New card addition further moderated to 1.1mn during the quarter and was lower 4% qoq and 33% yoy, driving a significant deceleration in CIF growth to 16% yoy (from 20%+ in preceding quarters). Retail spends growth was robust at 20% qoq/35% yoy owing to strong festive spends and attractive cashbacks/rewards offered by the company. Receivables grew by ...
Neutral SBI Cards and Payment Services Ltd For Target Rs.800 By Yes Securities
Neutral SBI Cards and Payment Services Ltd For Target Rs.800 By Yes Securities
Source: Yes Securities Ltd.
2024-04-12 11:56:36 am
Sell SBI Cards and Payment Services Ltd For Target Rs. 719 - Elara Capital SBI Cards and Payment Services (SBICARD IN) Q3 earnings, while in line with our estimates, stagnated as the company is besieged by challenges. Lower core profitability growth of 4% QoQ and a higher-than-expected PAT decline of 9% QoQ was due to: 1) an 18% QoQ spike in opex with the cost-income ratio rising to 60%, up 285bp QoQ, on account of higher festive cash back/allied offers (online & offline), and the impact was pronounced in Q3, 2) ...
Sell SBI Cards and Payment Services Ltd For Target Rs. 719 - Elara Capital
Sell SBI Cards and Payment Services Ltd For Target Rs. 719 - Elara Capital
Source: Elara Capital
2024-02-18 09:36:31 am
SBICAPS Report - Executive Summary   Central Banks have undertaken the challenging task of raising rates to historical highs to combat inflation over the past two years. This effort appears to have yielded some success, as inflationary pressures have eased, and there are signs of a potential soft landing for global economic growth. While the projected 3.1% y/y real GDP growth for the world in CY24 may not be dazzling, it exceeds many expectations. The US has demonstrated resilient growth, despit...
SBICAPS Report -
SBICAPS Report - "EcoCapsule"- Overview of Global and Indian Economy - February 2024
Source: PR Agency
2024-02-12 05:47:21 pm
Buy SBI Cards and Payment Services Ltd For Target Rs.874 - Geojit Financial Robust growth in card spends, outlook positive SBI Cards & Payment Services Ltd (SBI Cards) is India’s leading issuer of credit cards. The company offers a wide range of value-added payment products and services. It operates in more than 130 cities in the country • NII rose 16.1% YoY in Q2FY24 to Rs. 1,297cr. NIM contracted 90bps YoY to 11.3% owing to increase in cost of funds. • The company registered a 20.7% YoY growth in retail spends and 55.3% YoY growth in co...
Buy SBI Cards and Payment Services Ltd For Target Rs.874 - Geojit Financial
Buy SBI Cards and Payment Services Ltd For Target Rs.874 - Geojit Financial
Source: Geojit Financial Services
2023-11-10 03:14:27 pm
Add SBI Cards and Payment Services Ltd For Target Rs.900 - YES Securities Credit cost normalization elusive Largely in-line numbers SBI Cards delivered an in-line NII, PPOP and PAT in Q2 FY24, and the performance was characterized by 1) steady card addition and CIF growth (up 3% qoq/20% yoy), 2) sustained strong growth in Retail spends (up 5% qoq/20% yoy), 3) jump in Corporate spends (up 14% qoq/55% yoy), 4) healthy fee income growth (up 4% qoq/23% yoy), 5) an expected NIM decline (14 bps decline in portfolio yield), 6) controlled opex growth (cost/income was...
Add SBI Cards and Payment Services Ltd For Target Rs.900 - YES Securities
Add SBI Cards and Payment Services Ltd For Target Rs.900 - YES Securities
Source: Yes Securities Ltd
2023-11-07 12:12:19 pm