SBI Cards Q4 Review - Business Momentum Moderates In Covid 2.0: Axis Securities
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SBI Cards Q4 Review - Business Momentum Moderates In Covid 2.0: Axis Securities

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Axis Securities Report

SBI Cards and Payment Services Ltd. reported a below expectations performance with spends and new customer acquisitions moderating.

Total spends stood at Rs 35,943 crore versus our expectation of Rs 36,500 crore.

Spends grew by 11% YoY and de-grew by 3.4% QoQ. Online spends improved to 51.9% in FY21 from 44.2% in FY20.

Spends across categories (except Category 1 – departmental stores, consumer durable and utilities) continue to remain impacted due to Covid-19.

Cards in force were at 1.18 crore cards, up 12% YoY and 5% QoQ (versus our expectations of 1.2 crore cards, up 14% YoY).

Click on the attachment to read the full report:

Axis Securities SBI Cards And Payment Services-Q4FY21 Result Update.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

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