Questions across 3 calls

Salila Pande

Firm not listed in source transcripts

SBI Cards and Payment Services Limited

SBI Cards and Payment Services Limited CC-Apr26.pdf · 2026-04-27

We have mentioned during our previous earnings call that we will target acquisition of 9 lakh to 1 million for the quarter, and we have ended this quarter with around 9.17 lakhs. So we are on track, and we have said that the growth will be calibrated. We look at the next quarter acquisition to be somewhere in the similar range. And continue with adding high-value, good quality customers, which ultimately add value to the overall financials of the company.

No,it's not employee cost. There's normally a passback involved in the corporate spend on account of which the cost goes higher, and that is the reason. Overall, the business is profitable, but the margins are comparatively thinner, which basically boost both on the cost and the income side. And that is why the cost to income is higher. It's not because of the employee growth.

SBI Cards and Payment Services Limited CC-Jun25.pdf · 2025-07-25

Mahrukh, when I am saying range bound, I am saying that whatever reset has happened for this quarter, has two or three factors which have played into the ECL computation. One, because of the model refresh, then we have also seen an increase in the Net Earning Assets. So, we expect, of course, its still early days, but we expect that the ECL rates will be somewhere between what we saw in the last quarter and what we have seen in the current quarter.

Mahrukh, if you look at the overall industry, there's a little bit of muted growth which is happening in the retail segment. Although the receivable growth is 7%, our IBN EA has grown almost 8%. Although, we might see higher growth than what we saw in the 1st Quarter because the 1st Quarter typically sees slightly weaker demand. The festive season is coming up where we will see an uptick in the receivables. But it (Receivable Growth) will be in the range of around 10% to 12%.

SBI Cards and Payment Services Limited CC-Mar25.pdf · 2025-04-24

The first question about the NIM . There are 2 factors involved over here, as you would know that we also have to be mindful of the kind of yields that we are going to see and what kind of cost of funds we are going to see. So, cost of funds, normally, we reap the benefits after a certain amount of lag. And in terms of the yields also, as the interest rates have been declining, there will definitely be some kind of an impact on the yield side as well going forward. But our endeavor definitely will be to continue to ensure that the NIM remains steady. And going forward, after a certain period of time, we start seeing improved NIM as well. Your second question was about credit cost. So, credit cost, 5, 6 quarters, I think, would be too far away to predict at this point of time. We are seeing improvement, as I mentioned during my speech, but there are a lot of unknowns right now in the environment. We will keep a close watch and see that we continue to stay on the right path.

So, I will request Girish to supplement my response on this, but overall, yes, we have basically repurposed and repositioned our corporate card strategy in the last few months and quarters. And this is not a onetime lumpiness. I will request Girish to supplement.