SBI Cards  Q3 Review - Asset Quality Resurrection Surprises: Prabhudas Lilladher
Visa and Mastercard credit cards are arranged for a photograph. (Photographer: Daniel Acker/Bloomberg)

SBI Cards Q3 Review - Asset Quality Resurrection Surprises: Prabhudas Lilladher

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Prabhudas Lilladher Report

SBI Card and Payment Services Ltd.’s Q3 FY21 earnings was characterized by sharp improvement in asset quality (proforma gross non-performing assets fell 295 basis points QoQ, credit costs declined approximately 430 basis points, recoveries surged 29% QoQ) and continued business traction (QoQ growth in customer information file of 5%, new accounts acquisition at 33% and spends 27%).

However, the Reserve Bank of India revenue expenditure book expanded 11% QoQ to Rs 23.4 billion, but ~50% of such stock exhibited almost full repayments and only 33% lie under stress.

Click on the attachment to read the full report:

Prabhudas Lilladher SBI Card Q3FY21 Result Update.pdf

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