Page 2 - Sbi Cards

Bank OTP frauds on the rise: Here's what govt is doing to tackle it

The govt is currently testing a system that will allow banks to securely track a customer's registered address and geolocation to ensure the secure delivery of OTPs

SBI Card to raise up to Rs 2,000 crore in capital via Tier II bonds

CRISIL Ratings has assigned its "AAA/Stable" rating to the Rs 2,000 crore non-convertible debentures and Rs 2,000 crore lower Tier II bonds

Calling all shopaholics: Earn rewards with the new Titan SBI Card

Titan SBI Card is a great option for people who love to shop at Titan stores and want to earn rewards on their everyday purchases.

Weak Q3 FY24 performance weighs on SBI Card, AU Small Finance Bank

Analysts downgraded the stock tracking elevated provisions, interest rates, and funding costs

SBI Card Q3 profit rises 8% to Rs 549 cr, total income grows to Rs 4,742

SBI Cards and Payment Services Ltd has reported an 8 per cent rise in net profit to Rs 549 crore for the third quarter ended December 2023. The pure-play credit card company, promoted by SBI, had posted a net profit of Rs 509 crore during the corresponding period of the previous financial year. Total income grew to Rs 4,742 crore during the October-December period from Rs 3,656 crore in the year-ago period, SBI Card said in a regulatory filing. Total operating cost increased by 23 per cent at Rs 2,426 crore for the third quarter of FY24 from Rs 1,974 crore in the previous fiscal, it said. Gross non-performing assets (NPA) rose to 2.64 per cent during the quarter under review as against 2.22 per cent a year ago. Net NPA too increased to 0.96 per cent from 0.80 per cent at the end of the December quarter of the previous financial year. As a result, impairment losses and bad debt expenses grew to Rs 883 crore from Rs 533 crore in FY23. As of December 31, 2023, the card company's c

SBI Card raises Rs 525 crore via issuance of non-convertible debentures

SBI Card on Wednesday said it has raised up to Rs 525 crore by issuing non-convertible debentures to fund its business growth. It will allot 525 fixed rate, unsecured, rated, taxable, redeemable, subordinate tier II, listed, non-convertible debentures aggregating to Rs 525 crore on a private placement basis, according to a regulatory filing. They will have a face value of Rs 1 crore each and carry a coupon rate of 8.33 per cent, it said.

SBI Clerk 2023 posts: Notification, Application fee, Eligibility & Process

SBI has announced SBI Clerk 2023 recruitment notification on November 16, 2023. Applicants keen on applying for the post of Junior Associate (Customer Support & Sales) are required to apply online

Axis Bank, Bajaj Fin can dip up to 7%; GIC Hsg likely to gain, show charts

Meanwhile, SBI looks range-bound on charts, while shares of SBI Cards & Payments can pullback up to 7 per cent from present levels.

Stocks to Watch: Bharti Airtel, L&T, Tata Motors, Ethos, Blue Jet, Mankind

Stocks to watch on November 1, 2023: Bank of Baroda's head of digital lending, Akhil Handa, a techie closely associated with building the mobile banking application 'bob World', has quit

Analysts slash SBI Card's earnings estimates post Q2 result; shares tank 7%

SBI Card Q2 result: Analysts at Motilal Oswal Financial Services slashed SBI Card earnings by 8 per cent/10 per cent for FY24/FY25 as they expect the company to face margin pressure

SBI Card Q2 results: Net profit grows 15% to Rs 603 cr on higher income

SBI Cards and Payment Services Ltd (SBI Card) on Friday reported a 15 per cent rise in net profit at Rs 603 crore for the quarter ended September on higher income. The pure-play credit card company, promoted by the country's largest lender State Bank of India (SBI), had reported a net profit of Rs 526 crore in the previous quarter a year earlier. The total income in the second quarter of the current fiscal rose 22 per cent to Rs 4,221 crore, from Rs 3,453 crore a year ago, SBI Card said in a regulatory filing. The interest income grew 28 per cent to Rs 1,902 crore, while income from other sources jumped 21 per cent to Rs 2,186 crore. There was slight deterioration in the company's asset quality with the gross non-performing assets rising to 2.43 per cent of the gross advances as of September, from 2.14 per cent a year earlier. Net NPAs (bad loans) also rose to 0.89 per cent from 0.78 per cent in the corresponding quarter of last year. On capital adequacy, the company said the rat

SBI Pradhan Mantri e-Mudra Loan: How to apply, eligibility, features, more

SBI has an e-Mudra loan facility for small businesses to help them grow in the market. This loan offers easy credits to those involved in sectors like manufacturing, trade and service

NRIs can now open new bank accounts using SBI YONO app; Here's how

The service has been designed for the "new to bank" (NTB) customers and aims to smoothen the process of account opening at SBI for NRIs

Card payments in India to hit Rs 27.9 trillion mark in 2023: GlobalData

To drive card payments and reduce dependence on cash, the government had abolished merchant service fees on transactions with state-owned RuPay cards from January 2020.

Growth, asset quality expectations may limit downside for SBI Card

Growth in spends was healthy with retail spending up 28 per cent YoY while corporate spends rose 10 per cent YoY in Q1FY24

SBI Card Q1FY24 results: PAT down 5.27% to 593 crore, revenue up 26%

The company's revenue from operations went up by 26.18 per cent year-on-year to reach Rs 3,911.88 crore for the quarter that ended on June 30, 2023

Sensex trims losses, ends 107 pts down; Nifty below 19,650; NTPC soars 4%

CLOSING BELL ON JULY 28, 2023: NTPC and PowerGrid were the major gainers among the Sensex 30 stocks, while Bajaj Finserv and HDFC Bank declined up to 2 per cent on Friday.

Abhijit Chakravorty to be new MD & CEO of SBI Cards and Payment Services

Chakravorty, a post graduate in Applied Chemistry, started his banking career as a Probationary Officer with SBI in 1988

Amazon Prime Day 2023 starts on July 15: Check offers on TV, phones, others

Prime Day deals are limited to customers who have bought Amazon's paid Prime subscription

HDFC Life, Muthoot Fin: 75% stocks in financial services index eye bull-run

The Nifty financial services index is poised to rally in the direction of 20,700 - 20,900 level, delivering an upside of 5 per cent.