Slides
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INVESTOR PRESENTATION Q2 – FY 2026-27
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INDEX 1 Key Highlights 2 Portfolio Growth 3 Financial Update 4 Asset Quality 5 Borrowings & Capital Adequacy 6 ESG 7 Shareholders Summary 8 Annexures 2
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Key Highlights
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Key Highlights for Q2 FY27 4 Key Highlights for Q3FY23 4 11.06 lacs 18% YoY 8%QoQ ₹ 778 Cr 75% YoY 17% QoQ 4.4% 180 bps YoY 54 bps QoQ 2.32 Cr 8% YoY 3% QoQ 58.7% 193 bps YoY 5 bps QoQ ₹ 110,689 Cr 3% YoY 7% QoQ ₹ 58,376 Cr 2% YoY -- QoQ GNPA below 2%, New Accounts crossed 1.1Mn+ New A/cs CIF Spends Receivables PAT Cost to Income ROAA ROAE 18.4% 631 bps YoY 196 bps QoQ Balance Sheet Business VolumesProfitability 1.90% 95 bps YoY 14 bps QoQ 26.5% 393 bps YoY 83 bps QoQ 0.77% 52 bps YoY 6 bps QoQ GNPA NNPA CARGCL% 5.6% 342 bps YoY 98 bps QoQ
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Portfolio Growths
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Key Business Metrics 9.36 8.64 9.17 10.23 11.06 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Retail Spends (₹ Cr) Corporate Spends (₹ Cr) 8% QOQ 89,611 91,962 89,786 94,033 95,299 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 1% QOQ 37% QOQ 59,845 58,269 58,376 Q2 FY26 Q1 FY27 Q2 FY27 2.15 2.26 2.32 Q2 FY26 Q1 FY27 Q2 FY27 8% YOY 3% QOQ 18% YOY 6% YOY 12% YOY Cards-in-force (Cr) 2% YOY --% QOQ Receivables (₹ Cr) ~1 Mn+ new accounts sourced in Q1 & Q2, grew 18 % YoY Retail Spends higher- broad based across categories IBNEA at ~55% of Receivables. Key Insights: 17,452 22,739 25,564 24,442 15,390 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 New Accounts (Lacs) 6
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Portfolio Growth 77 44% 44% 46% 45% 45% 22% 23% 22% 22% 22% 34% 34% 32% 33% 33% Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Transactor Revolver EMI 57,21359,845 56,926 58,269 201 212 210 212 194 168 170 164 168 167 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Ret+Corp Ret Spend per Card (₹ ‘000) Receivable per Card (₹) Receivables(₹ Cr)/Mix % 53% 53% 52% 53% 53% Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 30-day Retail spend active rate % 55% 55% Interest Earning Receivables 56% 58,376 27,832 26,233 25,762 25,806 25,203 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27
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Retail Spends InsightsRetail Spends Insights UPI Spends on Rupay Cards* Spends Categories % Growth^ Category 1 Departmental Stores, Health, Utilities, Rental, Education & Direct Marketing 6% 17% 11% Category 2 Consumer durables, Furnishing & Hardware, Apparel & Jewelry 16% 5% 34% Category 3 Travel Agents, Hotels, Airline, Railways, Entertainment & Restaurant 14% 24% 11% Total Spends POS Spends Online Spend % • Q2 FY27 vs Q1 FY27 – Over 17% growth in UPI spends • Top 5 Categories for UPI Spends : Departmental Stores & Grocery | Fuel | Utilities | Electronics | Apparel *Active UPI users on Rupay Card Base of Sep’26. Data for UPI Retail spends only. Online Spends UPI Active CIF 26% 74% Tier 1 Tier 2+ UPI Spends 23% 77% Avg. UPI Spend/Account/month Rs. 18.9K Rs. 21.5K ^Q2 FY27 Over Q2 FY26 | Category analysis excludes Fuel & Automotive Service category 56.9% 57.9% 58.9% 62.5% 62.8% FY23 FY24 FY25 FY26 YTD FY27 8
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Financial Update
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1,281 1,220 1,145 1,013 849 9481,293 1,222 1,097Credit Cost GWO Provision 819 Key Financials 4,961 5,127 4,935 5,041 5,141 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Revenue from operations Interest Cost Operating Cost 760 785 714 745 787 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 2,484 2,597 2,561 2,620 2,649 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Impairment on financial Instruments* PAT Trend Key Insights: 2% QOQ 4% YOY 6% QOQ 4% YOY 1% QOQ 7% YOY (All figures in ₹ Cr ) PAT higher 17% QoQ and Revenue from operations grew ~2% QoQ Operating cost in line with previous quarter; Cost to Income @ 58.7% Credit cost significantly lower @5.6%14% QOQ 37% YOY 12 (0) (47) (65) (32) Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 10*Includes Gross Credit cost and impairment on other financial assets 1,001 1,442 H1 FY26 H1 FY27 44% YOY (All figures in ₹ Cr ) 17% QOQ 75% YOY 445 664 778 Q2 FY26 Q1 FY27 Q2 FY27
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P&L Summary (Composition Mix %) 4,961 5,041 Revenue from operations(₹ Cr) 5,141 (All figures in ₹ Cr ) 50% 48% 49% 26% 29% 29% 18% 17% 16% 6% 6% 6% Q2 FY26 Q1 FY27 Q2 FY27 Interest Income Spend Based Instance Based & Others Subscription Based 11 Key Metrics Yield 16.1% 16.0% 16 bps -34 bps 16.0% -65 bps COF 6.6% 6.5% 8 bps 18 bps 6.6% -19 bps NIM 10.8% 10.8% -1 bps -42 bps 10.8% -40 bps Cost to Income 58.7% 58.7% -5 bps 193 bps 58.7% 516 bps Credit Cost 5.6% 6.5% -98 bps -342 bps 6.1% -321 bps ROA 4.4% 3.9% 54 bps 180 bps 4.2% 117 bps Q2 FY27 Q1 FY27 QoQ YoY Total Income 5,302 5,205 2% 3% -Revenue from Operations 5,141 5,041 2% 4% -Interest Income 2,511 2,421 4% 1% -Fees & Other Revenue 2,630 2,620 0% 6% -Other Income 161 165 -2% -8% Interest Cost 787 745 6% 4% Operating Cost 2,649 2,620 1% 7% Earning Before Credit Cost 1,865 1,841 1% -1% Impairment on Financial Instruments 819 948 -14% -37% PBT 1,046 893 17% 74% PAT 778 664 17% 75% H1 FY27 YoY 10,505 3% 10,181 3% 4,932 -1% 5,249 8% 324 -2% 1,532 -3% 5,268 14% 3,705 -7% 1,766 -33% 1,939 44% 1,442 44%
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Asset Quality
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Asset Quality 1313 93.0% 94.4% 94.4% 4.2% 3.6% 3.7% 2.8% 2.0% 1.9% Q2 FY26 Q1 FY27 Q2 FY27 Stage 1 Stage 2 Stage 3 0.9% 1.2% 1.1% 21.7% 22.0% 22.6% 55.4% 59.9% 59.8% Q2 FY26 Q1 FY27 Q2 FY27 Stage 1 Stage 2 Stage 3 Provision(₹ Cr) (% of NEA) 59,845 58,37658,269 1,989 1,8441,877 Includes additional provision of Rs 70 Cr as of 30th June 2026 ^includes additional provision of Rs.100 Cr as on 30th Sep 2026 Rates as per the ECL model Receivables (₹ Cr) (Composition Mix %) (All figures in ₹ Cr ) Stage 2: 30-89 DPD and High Risk, Overlimit and Linked Accounts. Stage 3: 90-179 DPD and Settled, Restructured, Deceased and Linked Accounts. ^ ## ## ## ## ## ## ## Q2 FY27 Q1 FY27 QoQ YoY Gross Credit Cost (A) 816 948 -14% -37% -Gross Write off 849 1,013 -16% -34% -Provision (32) (65) 51% -379% Recoveries (B) 159 157 1% -6% Net Credit Cost (A-B) 657 791 -17% -41% Gross Credit Cost % 5.6% 6.5% -98 bps -342 bps -Gross Write off % 5.8% 7.0% -121 bps -312 bps -Provision % -0.2% -0.5% 23 bps -30 bps Net Credit Cost % 4.5% 5.5% -98 bps -332 bps PCR % 59.8% 59.9% -12 bps 433 bps ECL % 3.0% 3.1% -11 bps -34 bps GNPA % 1.90% 2.04% -14 bps -95 bps NNPA % 0.77% 0.83% -6 bps -52 bps ## ## ## H1 FY27 YoY 1,764 -33% 1,862 -27% (98) -217% 316 -3% 1,448 -38% 6.1% -321 bps 6.4% -258 bps -0.3% -63 bps 5.0% -315 bps 59.8% 433 bps 3.0% -34 bps 1.90% -95 bps 0.77% -52 bps # #
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Portfolio Insight 14 36% 19% 45% Govt/PSU Cat A Cat B 49% 51% SBI Open Market 34% 24% 42% Govt/PSU Cat A Cat B New Accounts Salaried Category 32% 47% 20% Under 30 31-45 >45 29% 20%30% 21% Tier 1 Tier 2 Tier 3 Others New Sourcing For Q2 FY27 Age Profile By City Tier 46%54% SBI Open Market 1.11 0.79 Cards- in- Force As on 30 Sep 26 19% 54% 27% Under 30 31-45 >45 34% 21% 27% 18% Tier 1 Tier 2 Tier 3 Others 0.53 1.05 1.07 1.15 1.05 0.78 0.97 1.00 1.05 0.99 Indexed 30+ delinquencyNote -With refinement in account classification, the % CIF distribution as of June 30, 2026 between SBI and Open market is 46% and 54% respectively.
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Borrowings & Capital Adequacy
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Borrowings & Capital Adequacy Borrowings Mix COF Trend 17.5% 19.1% 20.0% 20.3% 21.2% 22.5% 24.4% 25.5% 25.6% 26.5% Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 CAR Tier 1 Capital Adequacy Key Comments Credit Ratings Short Term : A1+ by CRISIL & ICRA Long Term : AAA/Stable by CRISIL & ICRA CRISIL & ICRA • CAR at comfortable level of 26%+ • Daily weighted average COF up by 18 bps QoQ 6.4% 6.5% 6.4% 6.5% 6.6% 6.8% 6.7% 6.6% 6.6% 6.8% Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 COF% Daily Weighted Average 16 62% 63% 61% 62% 64% 1% 15% 14% 15% 14% 13% 22% 23% 24% 24% 23% Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 WCDL CP NCD TL
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ESG
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ESG & CSR Update 18 CRISIL ESG Score SES ESG Score 71 80.2 Leadership | FY25 - 65 Low Risk | FY25 - 79.7 Niche99 ESG Rating 76.31 Leader ISO 31000:2018 Certified Strengthening enterprise-wide risk management through globally recognised standards and governance frameworks Strengthening Risk Culture Latest ESG Ratings | FY 25-26 Performance NEW Celebrated Onam and Ganesh Chaturthi across offices promoting inclusivity. Organized health camps for employees under Aarogya Utsav. Engagement activity with children suffering from Cancer at KGMU Hospital, Lucknow under CSR project with NGO partner Cankids…Kidscan. Corporate Social Responsibility (CSR) 18
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Shareholders Summary
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Shareholders Summary S. No Name of Shareholder % 1 State Bank Of India 68.58 2 Life Insurance Corporation Of India - P & Gs Fund 4.11 3 Icici Prudential Large & Mid Cap Fund 2.80 4 Icici Prudential Multi-Asset Fund 2.20 5 Life Insurance Corporation Of India 1.98 6 Government Pension Fund Global 1.80 7 Icici Prudential India Opportunities Fund 0.80 8 Nippon Life India Trustee Ltd-A/C Nippon India Multi Cap Fund 0.69 9 Icici Prudential Banking And Financial Services Fund 0.60 10 Tata Indian Opportunities Fund 0.59 11 Nippon Life India Trustee Ltd- A/C Nippon India Focus Fund 0.49 12 Tata Large And Mid-Cap Fund 0.48 13 Zulia Investments Pte. Ltd. 0.48 14 Vanguard Total International Stock Index Fund 0.47 15 Nippon Life India Trustee Ltd-A/C Nippon India Large Cap Fund 0.46 16 Nippon Life India Trustee Ltd- A/C Nippon India Banking & Financial Services Fund 0.45 17 Vanguard Emerging Markets Stock Index Fund, A Series Of Vanguard International Equity Index Funds 0.45 18 Nps Trust- A/C Hdfc Pension Fund Management Limited Scheme E - Tier I 0.37 19 Sbi Large & Midcap Fund 0.32 20 Icici Prudential Elss - Tax Saver Fund 0.31 Top 20 Shareholders as on 30th September 2026Shareholding Pattern, 30th September 2026 (SBI – 68.58%) Promoter Group SBI & Subs. 68.86% FPI 7.12% MF 13.00% Resident Individuals 3.29% Insurance 6.69% Others 1.04% 20
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Annexures
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Balance Sheet Statement 22 (All figures in ₹ Cr ) Description Mar’26 Sept’26 Assets Loans (Net of Provisions) 54,984 56,532 Cash & Bank Balances 2,320 3,759 Investments 6,374 7,980 All other Financial Assets 598 772 Total Financial Assets 64,275 69,043 PP&E, Intangible & Right of use assets 231 238 Current & Deferred Tax 473 474 All other non-financial Assets 1,348 1,348 Total non-financial Assets 2,052 2,059 Total Assets 66,328 71,102 Liabilities and equity Equity Share Capital 952 952 Other Equity 14,774 16,220 Total Equity 15,725 17,172 Borrowings 44,064 47,850 All other financial liabilities 4,565 3,994 Total financial liabilities 48,628 51,844 Provisions 808 884 Other non-financial liabilities 1,166 1,203 Total non-financial liabilities 1,974 2,087 Total liabilities and equity 66,328 71,102
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Profit & Loss Statement 23 (All figures in ₹ Cr ) Description Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 Interest Income 2,490 2,421 2,511 4,983 4,932 Fees and commission income 2,265 2,406 2,434 4,457 4,840 Sale of Services 20 10 7 46 17 Business development incentive income 185 204 188 352 392 Insurance commission income 0 1 1 0 1 Revenue from operations 4,961 5,041 5,141 9,838 10,181 Other Income 175 165 161 331 324 Income/Revenue 5,136 5,205 5,302 10,169 10,505 Finance costs 760 745 787 1,573 1,532 Fees and commission expense 269 397 334 457 731 Impairment on Financial Instruments 1,293 948 819 2,644 1,766 Employee benefits & Expenses 158 207 181 319 387 Depreciation, amortisation & impairment 35 31 33 70 63 Operating & Other expenses 2,022 1,986 2,102 3,757 4,087 Total expenses 4,537 4,312 4,256 8,820 8,566 Profit before tax 600 893 1,046 1,348 1,939 Profit after tax 445 664 778 1,001 1,442
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Explaining Returns 24 Q2 FY26 Q1 FY27 Q2 FY27 QoQ YoY Interest Income 14.8% 14.2% 14.3% 14 bps -47 bps Fees and other Income 13.5% 14.1% 13.9% -21 bps 43 bps Other Income 1.3% 1.3% 1.1% -17 bps -13 bps Recoveries 1.0% 0.9% 0.9% -1 bps -10 bps Total Revenue 30.5% 30.5% 30.3% -26 bps -27 bps Finance Costs 4.5% 4.4% 4.5% 13 bps -2 bps Operating Costs 14.8% 15.4% 15.1% -24 bps 36 bps Earnings before Credit Costs 11.3% 10.8% 10.7% -15 bps -60 bps Credit Costs 7.7% 5.6% 4.7% -88 bps -301 bps PBT 3.6% 5.2% 6.0% 73 bps 241 bps Taxes 0.9% 1.3% 1.5% 19 bps 61 bps ROAA 2.6% 3.9% 4.4% 54 bps 180 bps Avg Assets/Avg Equity 4.6 4.2 4.2 ROAE 12.1% 16.5% 18.4% 196 bps 631 bps H1 FY27 YoY 14.3% -70 bps 14.0% 61 bps 1.2% 0 bps 0.9% -7 bps 30.4% -16 bps 4.4% -29 bps 15.3% 141 bps 10.7% -128 bps 5.1% -284 bps 5.6% 156 bps 1.4% 39 bps 4.2% 117 bps 4.2 17.5% 356 bps
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Product Brief Core Cards Co-Brand Cards Banking Travel & FuelRetail Super Premium KrisFlyer SBI Card Apex BPCL SBI Card OCTANE IRCTC SBI Card Premier Indigo SBI Card Elite Reliance SBI Card Karnataka Bank SBI Card AURUM UCO Bank SBI Card SBI Card Elite SBI Card PRIME Shaurya Select SBI Card SBI Card Pulse Cashback SBI Card SimplyCLICK SBI Card SimplySAVE SBI Card PSB SBI Card Titan SBI Card Miles Elite SBI Card Miles Prime Card Miles Select Card Doctor’s SBI Card Tata Neu Infinity SBI Card Apollo SBI Card SELECT PhonePe SBI Card SELECT BLACK Flipkart SBI CardBank of Maharashtra SBI Card Landmark Rewards SBI Card PRIME Google Pay Flex SBI Card 25
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Market Share *As per RBI report Aug’26 TRANSACTIONS 18.6% 19.0% 18.6% 18.5% FY24 FY25 FY26 FY27* 17.8% 15.7% 18.1% 19.0% FY24 FY25 FY26 FY27* SPENDS 17.0% 16.7% 17.7% 18.0% FY24 FY25 FY26 FY27* Dominant credit card player in India CARDS IN FORCE 26
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Recent Developments Strengthening Regional Connect at SIIMA SBI Card partnered with SIIMA (South Indian International Movie Awards) to strengthen its brand presence & regional connect in South India. The association positioned SBI Card alongside leading film celebrities, creators, and media stakeholders, bringing targeted regional outreach. The initiative resulted in extensive visibility during on-ground event & on digital / social media. Launch of Secured Card Digital Journey on YONO Launched digital journey for Secured Card on YONO at Global Fintech Fest 2026, in the presence of Shri C S Setty, Chairman, State Bank of India. The journey enables SBI customers to apply for Instant fixed-deposit-backed credit card through YONO Web and Mobile App. The launch received coverage across leading national and regional media. New Product Launch - Google Pay Flex SBI Card SBI Card partnered with Google Pay, India’s second – largest UPI app, to launch ‘Google Pay Flex SBI Card’. The card combines Google Pay’s convenience with SBI Card’s credit offerings, targeting frequent spenders across groceries, utility bills, travel and shopping. The launch garnered 460+ mentions across leading national and regional media. SBI Card Apple Offer Campaign Continued the long-term strategic partnership with Apple where cardholders could avail up to Rs. 15,000 instant discount across different Apple products, including the newly launched iPhone 18 Pro. The partnership strengthens SBI Card’s positioning as a preferred choice for Apple product purchases, particularly among premium customers. 27
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Awards and Recognitions 28 SBI Card has been acknowledged amongst the Top 25 Safest Workplaces of India at the POSH Awards by Kelp. A proud moment! Ms. Salila Pande, MD & CEO, SBI Card, has been honoured among the Top 10 Professional CEO’s in the 2026 Candere Hurun India Women Leaders List.
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Glossary 29 Term Description New Accounts Sum of all accounts opened in a reporting period. Card-in-force Sum of all credit cards issued by us, including suspended credit cards that may be reactivated in future, net of cancelled and deactivated credit cards. Spends Total Spends (retail and corporate) constitutes the aggregate notional amounts (POS/online) transacted by our cardholders in a reporting period. Retail Spends Total retail spends constitutes the aggregate notional amounts (POS/online) transacted by our retail cardholders in a reporting period. Corporate Spends Total corporate spends constitutes the aggregate notional amounts (POS/online) transacted by our corporate entity cardholders in a reporting period. Receivables Total credit card receivables outstanding from our cardholders at the end of the reporting period. Retail 30-day Active Rate Constitutes the number of active accounts (with at least one retail transaction) over the total accounts in a month. Market share – CIF Market share-CIF is calculated by dividing our total cards outstanding by industry-wide total cards outstanding, as obtained from data published by RBI at the end of the reporting period. Market share – Spends Market share of total card spends is calculated by dividing our total card spends by the industry-wide total card spends, as obtained from data published by RBI for the reporting period. Averages Averages for various ratios are computed basis monthly denominators. Spends per card Spends per cards outstanding is calculated by dividing our total card spends by the average total cards outstanding for the period (annualized). Receivables per card Receivables per card outstanding is calculated as total receivables at the end of the reporting period divided by total cards at the end of the reporting period. EBCC EBCC is Earning before credit cost, calculated as aggregate of all revenue lines less interest cost and operating cost. Yield % Calculated as interest income from cardholders divided by average receivables for the period (annualized). COF % Calculated as total finance costs for the period divided by average borrowings (including lease liabilities) for the period (annualized). NIM % Calculated as interest income after subtracting finance cost divided by average receivables for the period (annualized). Gross Credit Cost % Calculated as Gross Write offs and incremental provisions on loan asset divided by average receivables for the period (annualized). Cost to Income % Calculated as operating and other expenses divided by Net revenue (Total revenue after subtracting finance cost.) ROAA Calculated as profit after tax divided by average total assets for the period (annualized). ROAE Calculated as profit after tax divided by the average shareholders’ equity for the period (annualized). GNPA% Calculated as Stage 3 receivables divided by total receivables at the end of the period NNPA% Calculated as Stage 3 receivables after subtracting provision of stage 3 divided by total receivables less stage 3 provision for the period ECL% Calculated as total provision divided by total receivables at the end of the period Shareholders’ equity Shareholders’ equity is defined as sum of share capital, reserves and surplus excluding reserves created out of amalgamation.
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Disclaimer 30 The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or purchase any securities of SBI Cards and Payment Services Limited in India or in any other jurisdiction. This presentation is not intended to be a prospectus or an offer document under any applicable law. This presentation may contain certain forward-looking statements which have purely been made basis Management’s expectations, assumptions and estimates, known or unknown risks. Such statement typically contain the terms / phrases (including but not limited to) “will”, “believe”, “aim”, “may”, “would”, “expect”, “would /may result”, “goal”, “strategy”, “anticipate”, “intend”, “seek”, “plan”, “objective”, “contemplate”, “project”, “anticipate”, etc., These statements are neither factual nor do they constitute any historical information about the Company and are subject to change / uncertainties in future. The actual financial or other results may materially differ from such statements, and the investors are advised not to make any decisions merely on these. The Management is further not expected to update these in future as and when there is a change impacting such estimates / possibilities. The recipients should conduct and carry out their own due diligence in respect of the information contained in the presentation. This presentation should not form basis or be relied upon in any connection with any contract or commitment whatsoever. Figures for previous period/year have been regrouped or recategorized wherever necessary to conform to the current period’s/year’s presentation. Totals in some columns/rows/graphs may not agree due to rounding-offs.
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Thank You