SBI's credit card business aims to raise $1.1 billion via IPO: source
5 years, 4 months ago

SBI's credit card business aims to raise $1.1 billion via IPO: source

India Today  

SBI has already tapped banks to run the IPO process and a listing is expected to happen in the last quarter of this financial year, bank officials have previously said. At the end of March 31, 2019, SBI Card, which is 74 per cent owned by SBI and 26 per cent by U.S private equity firm Carlyle Group, had total assets worth 195.93 billion rupees. SBI Card is the second-largest credit card issuer in the country, with 8.8 million outstanding cards as of June 30. Earlier this year, home-grown ride hailing company Ola had partnered with SBI Card to launch a co-branded credit card, allowing the company to expand its customer base. In 2017, the bank's life insurance business SBI Life Insurance was listed in a 84 billion rupees IPO.

Credit Card Ipo Sbi Sbi Card  aims  million  raise  market  sbi  11  credit  source  process  cards  billion  private  business  sbis  ipo  rupees  card

History of this topic

THIS credit card offers rewards on your cab rides. Check fee, benefits and other features
1 day, 22 hours ago

THIS credit card offers rewards on your cab rides. Check fee, benefits and other features

Live Mint  

At the time of opting for a credit card, it is recommended to choose the one which aligns with your specific lifestyle needs. SBI Card offers Ola Money SBI Credit Card which gives 7 percent rewards each time you take a ride with the cab aggregator service Ola. This is an international credit card which can be used at over …

At India’s largest bank, all eyes on premium customers
2 months ago

At India’s largest bank, all eyes on premium customers

Live Mint  

Mumbai: State Bank of India may be taking the higher road as it joins the scramble for customer funds without resorting to a rate war, but its outlook signals an extended industry struggle for deposit growth. India’s largest bank on Friday tempered its guidance on deposit growth to 10-11% from 12-13% for 2024-25 as customers might have now found more …

SBI Card: Puzzling investors’ fancy for cards biz
2 months ago

SBI Card: Puzzling investors’ fancy for cards biz

Live Mint  

The September quarter results of SBI Cards and Payments Services Ltd may be rather forgettable, but the stock still trades at the levels seen after June quarter earnings were announced. However, SBI Card's return on assets stood at 2.7% for the September quarter vis-à-vis 4.5% for Bajaj Finance. Both companies essentially earn money from loans, but unlike SBI Card, Bajaj …

Credit Card Spending Soars 25% in September, Driven by Festive Demand
2 months, 1 week ago

Credit Card Spending Soars 25% in September, Driven by Festive Demand

ABP News  

Credit card spending surged by 25% in September, driven by increased festival demand and a favourable base effect. Experts attribute this growth to lower base in the previous year and the festival season. Some private banks have reported an increase in stress within the credit card and microfinance segments, but the growth rate of outstanding credit cards is slowing. The …

SBI plans to open 400 branches in FY25: Chairman Dinesh Khara
6 months, 2 weeks ago

SBI plans to open 400 branches in FY25: Chairman Dinesh Khara

Hindustan Times  

As part of the network expansion plan, State Bank of India is planning to open 400 branches across the country in the current financial year. During the year ended March 2024, the bank infused additional capital of ₹489.67 crore in SBI General Insurance Company Ltd. SBI General Insurance reported a 30.4 per cent rise in net profit to ₹240 crore …

SBI to monetise subsidiaries after scaling up their businesses: Chairman Khara
6 months, 3 weeks ago

SBI to monetise subsidiaries after scaling up their businesses: Chairman Khara

Hindustan Times  

SBI Chairman Dinesh Kumar Khara has said the lender would wait for its subsidiaries like SBI General Insurance and SBI Payment to further scale up their operations before monetising them. During the financial year 2023-24, the bank infused additional capital of ₹489.67 crore in SBI General Insurance Company Ltd. SBI General Insurance reported a 30.4% rise in net profit to …

SBI Share price: State Bank of India’s stocks surge to all-time high, market cap crosses ₹8 lakh crore
7 months ago

SBI Share price: State Bank of India’s stocks surge to all-time high, market cap crosses ₹8 lakh crore

The Hindu  

The market capitalisation of the State Bank of India crossed the ₹8 lakh crore mark on June 3 after the bank's shares surged to a record high of ₹907. Finance Minister Nirmala Sitharaman has recently posted on social media that India's banking sector has achieved a significant milestone by recording its highest-ever net profit, exceeding ₹3 lakh crore. In the …

SBI Cards & Payment Services Q4 Results Live : profit rise by 11.05% YOY
8 months, 1 week ago

SBI Cards & Payment Services Q4 Results Live : profit rise by 11.05% YOY

Live Mint  

SBI Cards & Payment Services Q4 Results Live : SBI Cards & Payment Services declared their Q4 results on 26 Apr, 2024. SBI Cards & Payment Services has delivered 4.46% return in the last 1 week, -1.83% return in last 6 months and -0.16% YTD return. Currently the SBI Cards & Payment Services has a market cap of ₹72121.45 Cr …

SBI Card declares interim dividend of ₹2.50/share for FY24
9 months, 2 weeks ago

SBI Card declares interim dividend of ₹2.50/share for FY24

Live Mint  

SBI Cards and Payment Services on March 19 declared an interim dividend of ₹2.50 per equity share for FY23-24, it said in a filing with the exchanges. SBI Card Q3 results: Net profit rises 8% to ₹ 549 crore SBI Card on January 25 declared financial results for Q3FY24 ended December 31, 2023. The State Bank of India-backed credit card …

Credit cards in India to soon hit 100-million mark, RBI data reveals
11 months, 1 week ago

Credit cards in India to soon hit 100-million mark, RBI data reveals

Live Mint  

As of December 2023, there were 97.9 million outstanding credit cards, with a record 1.9 million additions during the month alone, the latest Reserve Bank of India data revealed. {{^adFree}} {{/adFree}} As of December 2023, there were 97.9 million outstanding credit cards, with a record 1.9 million additions during the month alone, the latest Reserve Bank of India data revealed. …

SBI Card joins Bharat BillPay in the credit card category; details here
1 year, 1 month ago

SBI Card joins Bharat BillPay in the credit card category; details here

Live Mint  

NPCI Bharat BillPay, a wholly-owned subsidiary of the National Payments Corporation of India, has successfully integrated SBI Card, one of India’s leading credit card issuers, into the credit card category of Bharat BillPay. Noteworthy credit card issuers already present in this category include Kotak Mahindra Bank, BoB Financial, Federal Bank, AU Small Finance Bank, IndusInd Bank, and Canara Bank. Through …

SBI to raise ₹50k crore via debt instruments
1 year, 6 months ago

SBI to raise ₹50k crore via debt instruments

Live Mint  

State Bank of India on Friday said its board has approved a proposal to raise up to ₹50,000 crore this fiscal year through various debt instruments. India’s largest bank intends to raise the funds by issuing long-term bonds, Basel III-compliant Additional Tier 1 bonds, and Basel III-compliant Tier 2 bonds, in private placements to either Indian or overseas investors, subject …

SBI Card revises cashback benefits on service, check details here
1 year, 9 months ago

SBI Card revises cashback benefits on service, check details here

Live Mint  

SBI Cards and Payments is all set to revise some of the services on Cashback SBI Card from 1 May,2023. In a notification issued on Thursday, SBI Cards and Payments said Cashback SBI Card will not offer any cashback on services like jewelry, school and educational services, utilities, insurance services cards, member financial institution/quasi cash, and railways and others. Please …

After high card additions in February, what are the triggers for SBI Card stock?
1 year, 9 months ago

After high card additions in February, what are the triggers for SBI Card stock?

Live Mint  

SBI Cards and Payment Services Ltd has been reporting steady growth in its credit cards outstanding instead of new card additions. According to data from the Reserve Bank of India, SBI Card saw the highest new credit card additions of around 300,000 in February. In terms of overall credit cards outstanding, SBI Card grew 2% sequentially in February while HDFC …

SBM blocks fintech-partnered credit cards on short notice
1 year, 9 months ago

SBM blocks fintech-partnered credit cards on short notice

Live Mint  

SBM Bank India, the wholly-owned subsidiary of foreign lender State Bank of Mauritius, has blocked the corporate credit cards it offered in partnership with several fintech players in India following a Reserve Bank of India diktat to update their 'know your customer' details, multiple people privy to the development told VCCircle. Several credit card holders complained of receiving the email …

Pay more from next month, SBI credit card charges hiked
1 year, 10 months ago

Pay more from next month, SBI credit card charges hiked

Live Mint  

In todays world, life without a credit card looks simply impossible, Almost everyone has a minimum of one credit card in his/her wallet. State Bank of India Cards & Payment Services has revised the charges and fees of SBI Credit Card. Customers who were paying their rent via credit card would be charged Rs199 + applicable taxes, up from ₹99 …

SBI’s personal banking advances cross ₹5 lakh-cr mark; stock nears 1-year high
2 years, 1 month ago

SBI’s personal banking advances cross ₹5 lakh-cr mark; stock nears 1-year high

Live Mint  

Largest lender in India, SBI has touched a new milestone in personal banking advances by crossing the ₹5 trillion mark by end of November 2022. The first time SBI struck a ₹1 trillion mark in personal banking advances was in January 2015. In a matter of 12 months, SBI has managed to clock ₹5 trillion mark in personal banking advances. …

LIC IPO: Full list of top initial public offerings in India
2 years, 8 months ago

LIC IPO: Full list of top initial public offerings in India

India Today  

Life Insurance Corporation of India is gearing up to launch the largest initial public offering in India's share market. PAYTM Fintech firm Paytm’s initial public offering of up to Rs 18,300 crore in November last year is still the country’s largest stock market listing, surging past miner Coal India’s massive IPO more than a decade ago. COAL INDIA In 2010, …

Amazon to Home Centre: SBI Card unveils 1,000 offers ahead of festive season
4 years, 2 months ago

Amazon to Home Centre: SBI Card unveils 1,000 offers ahead of festive season

Live Mint  

With over 1,000 new offers spread across the country, the SBI Card on Tuesday has unveiled its festive offers. "SBI Card endeavours to bring customers a rewarding shopping experience on their festive season purchases," the company said in a statement. SBI Card will offer vast range of discounts and cashbacks across brands including Amazon, Brand Factory, Croma, Caratlane, Fabindia, FirstCry, …

SBI Card to start festive season offers with cashback, discounts across various brands from Oct 1
4 years, 2 months ago

SBI Card to start festive season offers with cashback, discounts across various brands from Oct 1

India TV News  

SBI Card on Tuesday said it has kick-started festive season offers in line with the changing shopping trends and customers will be offered discounts as well as cashback across a host of brands. With over 1,000 offers across 2,000 cities, SBI Card endeavors to bring customers a rewarding shopping experience on their festive season purchases, it said in a release. …

SBI commits 0.25% of annual profit to help fight coronavirus outbreak in India
4 years, 9 months ago

SBI commits 0.25% of annual profit to help fight coronavirus outbreak in India

Live Mint  

The country's largest lender State Bank of India said it will provide 0.25% of its annual profit for 2019-20 to fight the novel coronavirus outbreak in India. The bank will use this fund for various activities related to coronavirus mainly to support health care for underprivileged people in cooperation with health care professionals and industry, it said. The fund will …

SBI Cards make weak debut at bourses; plunges over 10% as coronavirus fears continue to hurt investor sentiment
4 years, 9 months ago

SBI Cards make weak debut at bourses; plunges over 10% as coronavirus fears continue to hurt investor sentiment

Firstpost  

The drop in SBI Card’s scrip was in-line with a weak broader market, where the BSE benchmark plummeted over 2,700 points. New Delhi: Shares of SBI Cards and Payment Services made a weak debut at the bourses on Monday plunging over 10 percent against its issue price of Rs 755 as coronavirus fears continued to hurt investor sentiment. The drop …

SBI Cards makes weak debut at bourses; plunges nearly 13% against issue price of Rs 755
4 years, 9 months ago

SBI Cards makes weak debut at bourses; plunges nearly 13% against issue price of Rs 755

Firstpost  

The SBI scrip listed at Rs 658, dropping 12.84 percent from the issue price on the BSE. New Delhi: Shares of SBI Cards and Payment Services made a weak debut at the bourses on Monday, plunging nearly 13 percent, against its issue price of Rs 755. #NewListing | SBI Card settles at Rs 661/Sh in pre-opening on NSE against the …

SBI Cards IPO: Allotment of SBI Cards IPO share announced; Simple steps to check status
4 years, 9 months ago

SBI Cards IPO: Allotment of SBI Cards IPO share announced; Simple steps to check status

India TV News  

SBI Cards IPO Allotment: Investors who subscribed to the IPO of the SBI Cards and Payment Services and are keenly awaiting the allotment of shares, can check their share status. SBI Cards IPO was open for four days from March 2 and closed for subscription on 5 March 2020. How to check SBI Cards IPO Allotment status: To check your …

SBI Cards IPO: Check status of allotment of shares
4 years, 9 months ago

SBI Cards IPO: Check status of allotment of shares

India TV News  

SBI Cards IPO: The wait is over. Those who had applied for shares of SBI cards in its recent IPO, can check the status of your allotment on the website of Link Intime India, the registrar of the IPO. SBI Cards, which is the credit card arm of the SBI, drew bids for 225 crore shares, compared about 10 crore …

SBI Cards IPO opens today: Key points you need to know before investing
4 years, 10 months ago

SBI Cards IPO opens today: Key points you need to know before investing

India TV News  

SBI Cards IPO: The IPO of SBI Cards will open for subscription on Monday i.e March 2, 2020, amid a lot of buzz about the issue. The initial public offer or IPO of SBI Cards and Payment Services, India's one of the largest credit card issuer, will open for subscription on Monday. SBI Cards IPO aims to raise over ₹10,000 …

SBI Cards IPO: How to apply for SBI Cards IPO? Check price band, lot size, eligibility criteria
4 years, 10 months ago

SBI Cards IPO: How to apply for SBI Cards IPO? Check price band, lot size, eligibility criteria

India TV News  

SBI Cards IPO: The initial public offer or IPO of SBI Cards and Payment Services, India's one of the largest credit card issuer, will open next week on March 2. SBI Card IPO Details: Open Date: Mar 02 2020 Close Date: Mar 05 2020 Total Shares: 137,193,464 Face Value: ₹ 10 Per Equity Share Issue Type: Book Building Issue Size: …

SBI Cards and Payment Services sets IPO price band at Rs 750-755; maiden public offer to open on 2 March
4 years, 10 months ago

SBI Cards and Payment Services sets IPO price band at Rs 750-755; maiden public offer to open on 2 March

Firstpost  

Mumbai: The second largest card issuer SBI Cards & Payment Services, which is hitting the primary market with a Rs 9,000-crore initial public offering, has set the price band for the share sale at Rs 750-755. SBI holds 74 percent in SBI Card and the rest by the Carlyle Group and they will pare their stakes by 4 percent and …

SBI's credit card arm likely to launch IPO early next month; plans to raise Rs 9,000 cr via maiden issue
4 years, 10 months ago

SBI's credit card arm likely to launch IPO early next month; plans to raise Rs 9,000 cr via maiden issue

Firstpost  

Last week, the SBI subsidiary received markets regulator the Securities and Exchange Board of India’s approval to float an initial public offering. SBI Cards and Payment Services, the credit card unit of the country’s largest lender State Bank of India, may hit the market with the initial public offering early next month. SBI Cards and Payment Services, which is backed …

Attention! SBI credit card holders won't get to avail THIS benefit from today. Deets inside
5 years, 3 months ago

Attention! SBI credit card holders won't get to avail THIS benefit from today. Deets inside

India TV News  

SBI credit card holders alert! Credit cardholders won't get a 0.75 per cent discount on buying fuel at petrol pumps from today. SBI has informed its credit card customers that the 0.75 per cent cashback on fuel transactions will be discontinued effect from October 1, 2019. "Dear SBI credit cardholder, as advised by public sector oil marketing companies, the 0.75 …

SBI shelves IPO plans for general insurance arm, card JV to hit market in Q4
5 years, 3 months ago

SBI shelves IPO plans for general insurance arm, card JV to hit market in Q4

Live Mint  

The State Bank of India chairman Rajnish Kumar has said that the bank has dropped its plan to take its general insurance arm public as there is no need for additional capital now. India's largest lender, was earlier looking for an IPO for SBI General Insurance in FY21. When asked if the initial public offering for general insurance will happen …

SBI Card says IPO process initiated, decision on timing to hit market later
5 years, 4 months ago

SBI Card says IPO process initiated, decision on timing to hit market later

Live Mint  

SBI Card has initiated the process for an initial share sale and the decision on when to come out with the offer will be taken at an appropriate time, a senior company official said on Monday. As per the request for proposal for book running lead managers floated by the SBI Card, the company intends to tap capital markets via …

BIG news for SBI account holders. Bank to do away with Debit Cards to promote digital payments
5 years, 4 months ago

BIG news for SBI account holders. Bank to do away with Debit Cards to promote digital payments

India TV News  

The State Bank of India is looking to end the usage of debit cards from the banking system. What SBI says on debit cards: ".it is our wish to eliminate the debit cards, and am sure we can eliminate them," chairman Rajnish Kumar said, speaking at the annual Fibac Monday. He said there are around 90 crore debit cards in …

To cut costs, SBI may rethink role of branches
5 years, 8 months ago

To cut costs, SBI may rethink role of branches

Live Mint  

State Bank of India is planning to optimise costs by rethinking the role of branches to see what activities and processes currently performed there can be centralised. As part of the exercise, the nation’s largest lender will appoint a consultant to suggest strategies to optimize balance sheet and maximize return on asset and pre-provisioning operating profit, a document seeking bids …

SBI gets board approval to raise up to $2.5 billion in bonds
5 years, 8 months ago

SBI gets board approval to raise up to $2.5 billion in bonds

Live Mint  

Mumbai: The State Bank of India Wednesday said its board has given its approval to raise up to $2.5 billion through bonds in FY20. In a statement issued Wednesday, SBI said the board has approved “long-term fund raising in single/multiple tranches up to $2.5 billion under Reg-S/144A, through a public offer and/or private placement of senior unsecured notes in US …

Discover Related