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SBI Cards and Payment Services Ltd. is a subsidiary of State Bank of India (69% stake) and is the second largest credit card issuer in India with 19% market share (December 2020) in terms of spends and number of cards.
It offers an extensive credit card portfolio to individual cardholders and corporate clients, including lifestyle, travel, etc, and corporate cards covering all major segments.
The company is set to forge ahead on a healthy growth trajectory as we believe under penetrated market (three cards per 100 population), potential within the group (existing-to-bank customers at ~49%) and increasing digital transactions (73% compound annual growth rate in FY15- 20) would lever growth.
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