SBICARD

Feb 17 (Reuters) - SBI Cards and Payment Services Ltd SBIC.NS:

• SBI CARDS AND PAYMENT SERVICES LTD - DECLARES INTERIM DIVIDEND OF 2.50 RUPEES PER SHARE

• SBI CARDS AND PAYMENT SERVICES - APPOINTS SALILA PANDE AS MANAGING DIRECTOR & CEO

Source text: ID:nBSEbNQWBK

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Jan 28 (Reuters) - SBI Cards and Payment Services Ltd SBIC.NS:

• Q3 PAT 3.83 BILLION RUPEES; IBES PROFIT EST. 4.59 BILLION RUPEES

• Q3 TOTAL REVENUE FROM OPERATIONS 46.19 BILLION RUPEES

Source text: ID:nBSE1nssvf

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Dec 6 (Reuters) - SBI Cards and Payment Services Ltd SBIC.NS:

• SBI CARDS AND PAYMENT SERVICES LTD - SURPASSED 20 MILLION CARDS IN FORCE MARK

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Oct 29 (Reuters) - India's SBI Cards and Payment Services SBIC.NS reported a 33% drop in second-quarter profit on Tuesday, as bad loans write-offs and provisions rose.

Profit after tax fell to 4.04 billion rupees ($48.1 million) for July-September from 6.03 billion rupees a year earlier.

Indian lenders have been grappling with elevated bad loans in unsecured segments like credit card.

SBI Card, backed by India's largest lender State Bank of India SBI.NS, said that write-offs and provisions for bad loans jumped 63% to 12.12 billion rupees for the quarter.

Its non-performing assets as a percentage of gross advances worsened to 3.27% at the end of September from 2.43% a year earlier.

Cards-in-force, or the sum of all credit cards issued, rose 10% from the year earlier at the end of September.

Spends by cardholders, or the aggregate amount transacted, grew 3% to 818.93 billion rupees.

Total revenue from operations rose 8% to 44.21 billion rupees from a year earlier.

($1 = 84.0530 Indian rupees)

(Reporting by Nishit Navin in Bengaluru; Editing by Mrigank Dhaniwala)

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Oct 10 (Reuters) - Sattrix Information Security Ltd SATU.BO:

• GETS ORDER FROM SBI CARDS AND PAYMENTS SERVICES

Source text for Eikon: ID:nBSE8jSMw0

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Sept 30 (Reuters) - SBI Cards and Payment Services Ltd SBIC.NS:

• SBI CARDS AND PAYMENT SERVICES LTD - SBI CARD PARTNERS WITH SINGAPORE AIRLINES

• SBI CARDS AND PAYMENT - PARTNERSHIP WITH SINGAPORE AIRLINES, LAUNCHES CO-BRAND CREDIT CARD

Source text for Eikon: ID:nBSE9RpdP8

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Sept 18 (Reuters) - SBI Cards and Payment Services Ltd SBIC.NS:

• SBI CARDS AND PAYMENT SERVICES - APPROVES FUND RAISE UP TO 50 BILLION RUPEES

• SBI CARDS AND PAYMENT SERVICES - APPROVES FUND RAISE VIA ISSUE OF NON-CONVERTIBLE DEBENTURES

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Sept 12 (Reuters) - SBI Cards and Payment Services Ltd SBIC.NS:

• SBI CARDS AND PAYMENT SERVICES LTD - TO CONSIDER RAISING OF FUNDS

• SBI CARDS AND PAYMENT SERVICES LTD - TO CONSIDER AND APPROVE PROPOSAL, FOR RAISING OF FUNDS

• SBI CARDS AND PAYMENT SERVICES LTD - TO CONSIDER ISSUE OF NCDS WORTH UPTO 50 BILLION RUPEES

Source text for Eikon: ID:nBSE3GlMgz

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MUMBAI, Aug 7 (Reuters) - India's SBI Cards and Payment Services SBIC.NS has accepted bids aggregating to 15 billion rupees ($178.7 million) for subordinated bonds maturing in 10 years, three bankers said on Wednesday.

It will pay an annual coupon of 8.25%. The issuer had invited bids from bankers and investors earlier in the day.

Here is the list of deals reported so far on Aug. 7

* Size includes base plus greenshoe for some issues

($1 = 83.9465 Indian rupees)

(Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Varun H K)

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MUMBAI, Aug 6 (Reuters) - India's SBI Cards and Payment Services SBIC.NS plans to raise 15 billion rupees ($178.70 million) through the sale of subordinated bonds maturing in 10 years, three bankers said on Tuesday.

It will pay an annual coupon of 8.25% and has invited bids from bankers and investors on Wednesday, they said.

Here is the list of deals reported so far on Aug. 6:

*Size includes base plus greenshoe for some issues

($1 = 83.9410 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Janane Venkatraman)

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July 26 (Reuters) - SBI Cards and Payment Services Ltd SBIC.NS:

• SBI CARDS AND PAYMENT SERVICES Q1 PAT 5.94 BILLION RUPEES

• SBI CARDS AND PAYMENT SERVICES Q1 TOTAL REVENUE FROM OPERATIONS 43.59 BILLION RUPEES

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July 5 (Reuters) - SBI Cards and Payment Services Ltd SBIC.NS:

• AMRITESH MOHAN RESIGNS AS DEPUTY CEO

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June 21 (Reuters) - SBI Cards and Payment Services Ltd SBIC.NS:

• SBI CARDS AND PAYMENT SERVICES LTD - APPOINTMENT OF ASHUTOSH KUMAR SHARMA AS CHIEF OPERATING OFFICER

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Adds analyst estimates on likely inflows into Adani Ports in paragraph 5

By Bharath Rajeswaran

BENGALURU, May 24 (Reuters) - India's Adani Ports and Special Economic Zone APSE.NS will replace Wipro WIPR.NS in the 30-stock blue-chip S&P BSE Sensex .BSESN, the operator of the index said on Friday.

The BSE, in its semi-annual rebalancing exercise, included the country's largest private port operator, making it the first Adani Group company to join the Sensex, effective June 24.

The Sensex ended the session muted ahead of the announcement. .BO

Two Adani Group companies - Adani Enterprises ADEL.NS and Adani Ports are already part of the other benchmark index NSE Nifty 50 .NSEI.

Adani Ports could see inflows of $252 million after inclusion into the Sensex, while Wipro will likely witness outflows worth $161 million, said Abhilash Pagaria, head of Nuvama Alternative and Quantitative Research.

Adani Ports' inclusion into the Sensex came on the same day when shares of Adani Enterprises recovered in intraday trade to levels last seen in January 2023, before a report by Hindenburg Research triggered a sell-off in Gautam Adani's ports-to-power conglomerate.

Since that report, Adani Ports and Adani Power ADAN.NS have been the best-performing group stocks, rising 86.04% and 157.4%, respectively. They were also the first two Adani companies to bounce back from the drop.

Earlier in May, Adani Ports posted a 76% rise in its fourth-quarter profit, helped by record cargo volumes.

Its stock has jumped 6% this week, its best weekly performance since early February.

Besides the Sensex rejig, REC RECM.NS, HDFC Asset Management HDFA.NS, Canara Bank CNBK.NS, Cummins India CUMM.NS and Punjab National Bank PNBK.NS have been included in the BSE 100 index .BSE100.

The stocks replaced in that index are Page Industries PAGE.NS, SBI Cards and Payment Services SBIC.NS, ICICI Prudential Life Insurance ICIR.NS, Jubilant FoodWorks JUBI.NS and Zee Entertainment Enterprises ZEE.NS.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sohini Goswami and Varun H K)

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BENGALURU, May 14 (Reuters) - Indian non-banking financial companies (NBFC) will see some moderation in profitability in the next 12 to 18 months due to higher funding costs, rating agency Moody's said in a report on Tuesday.

In November, India's central bank asked banks to set aside additional capital against loans to NBFCs, making borrowing from banks more expensive for non-bank lenders.

The Reserve Bank of India also increased the capital requirements for unsecured loans for both banks and non-bank lenders.

Indian non-bank lenders have reported healthy loan growth in recent quarters due to strong credit demand, especially in the unsecured lending space.

But as unsecured loans mature, Moody's expects the sector's credit costs, or loan-loss provisions as a portion of gross loans, to increase from cyclically low levels.

It also expects some NBFCs to reduce unsecured lending and increase secured lending after the central bank's November order, and the non-performing asset ratios for non-banks to remain below pre-pandemic levels.

Loans at NBFCs would grow about 15% in the next 12-18 months, Moody's Ratings said.

(Reporting by Nishit Navin in Bengaluru; Editing by Shinjini Ganguli)

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April 26 (Reuters) - SBI Cards and Payment Services Ltd SBIC.NS:

• SBI CARDS AND PAYMENT SERVICES Q4 PAT 6.62 BILLION RUPEES

• SBI CARDS AND PAYMENT SERVICES Q4 TOTAL REVENUE FROM OPERATIONS 43.48 BILLION RUPEES

• SBI CARDS AND PAYMENT SERVICES YEAR AGO Q4 PAT 5.96 BILLION RUPEES, TOTAL REVENUE FROM OPERATIONS 37.62 BILLION RUPEES

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March 19 (Reuters) - SBI Cards and Payment Services Ltd SBIC.NS:

• SBI CARDS AND PAYMENT SERVICES LTD- DECLARED AN INTERIM DIVIDEND OF 2.50 RUPEES PE RSHR

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MUMBAI, Feb 27 (Reuters) - A summary of primary bond market deals in India as of 6:00 p.m. IST (1230 GMT) on Feb. 27. Please note the list includes deals reported by Reuters and is not exhaustive.

* Size includes base plus greenshoe for some issues

(Reporting by Bhakti Tambe; Editing by Janane Venkatraman)

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MUMBAI, Feb 26 (Reuters) - India's SBI Cards and Payment Services SBIC.NS plans to raise 7.5 billion rupees ($90.49 million) through the sale of subordinated Tier-II bonds maturing in 10 years, three bankers said on Monday.

It has invited coupon and commitment bids for the issue on Tuesday, they said.

In January, the company raised 5.25 billion rupees via 10-year subordinated bonds at a coupon of 8.33%.

Here is the list of deals reported so far on Feb. 26:

($1 = 82.8860 Indian rupees)

(Reporting by Bhakti Tambe; Editing by Savio D'Souza)

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BENGALURU, Jan 25 (Reuters) - India's SBI Cards and Payment Services SBIC.NS reported a smaller-than-expected third-quarter profit on Thursday, as higher finance costs outweighed a rise in consumer spending.

Indian lenders have been grappling with elevated cost of funds as the country's central bank kept lending rate steady at 6.50% since February 2023 after raising rates by 250 basis points since May 2022.

The State Bank of India SBI.NS-backed credit card services provider said finance costs rose 50% in the quarter ended Dec. 31 from last year, pushing total expenses up by 34.7%.

Moreover, the cost-to-income was higher due to increased cashbacks offered during the festive season, it said.

Aggregate amount spent by cardholders grew 41% to 968.60 billion rupees for the company, as affluent Indians spent more amid festivities.

Card-in-force, the sum of all credit cards issued by the company, grew 16% from the year-ago period.

Total revenue from operations increased 31.8% to 46.22 billion rupees from a year earlier, helped by a near-29.5% jump in interest income and 37% jump in income from fees, commissions and others.

Still, SBI Card reported a profit after tax of 5.49 billion rupees ($66 million), well below analysts' estimates of 5.73 billion rupees as per LSEG data.

Net interest margin (NIM), the difference between interest earned and paid expressed as percentage, fell 25 basis points to 11.3% from last year.

Gross bad loans as a percentage of gross advances - a measure of asset quality - slightly worsened to 2.64% at the end of the December quarter, from 2.43% at the end of September.

Shares of the company ended 1.7% higher ahead of the results.

($1 = 83.0880 Indian rupees)

(Reporting by Nishit Navin and Dimpal Gulwani in Bengaluru; Editing by Varun H K)

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MUMBAI, Jan 24 (Reuters) - India's SBI Cards and Payment Services SBIC.NS has accepted bids worth 5.25 billion rupees ($63.13 million) for the sale of subordinated bonds maturing in 10 years, three bankers said on Wednesday.

The company will pay a coupon of 8.33% on this bond issue and had invited bids from bankers and investors on Tuesday, they said.

The company last tapped the market in May 2023, when it raised 8.10 billion rupees via bonds maturing in five years at a coupon of 7.85%.

Here is the list of deals reported so far on Jan. 24:

*Size includes base plus greenshoe for some issues

($1 = 83.1670 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)

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MUMBAI, Jan 19 (Reuters) - India's ONGC Petro additions has accepted bids worth 9 billion rupees ($108.26 million) on the issue of bonds maturing in three years, three bankers said on Friday.

The company has set a coupon of 8.29% on this bond issue. It had invited bids from investors earlier in the day.

In June, the company raised 6 billion rupees via three-year bonds at 8.37%.

Here is the list of deals reported so far on Jan. 19:

*Size includes base plus greenshoe for some issues

($1 = 83.1370 Indian rupees)

(Reporting by Bhakti Tambe; Editing by Sonia Cheema)

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By Siddhi Nayak and Dharamraj Dhutia

MUMBAI, Nov 20 (Reuters) - Indian non-banking finance companies (NBFCs), including Bajaj Finance, L&T Finance and SBI Cards and Payment Services, are likely to tap the bond market to raise funds following the central bank's tighter rules for personal loans, six banking sources told Reuters.

The rules, which raise the capital that banks need to set aside for personal loans directly and indirectly via NBFCs, will mean that bank borrowings for NBFCs are set to become more expensive, pushing lenders to tap the bond market.

Bank borrowing costs for these lenders are set to rise 25-30 basis points (bps), which will make bond market borrowings relatively cheaper, said an official at a mid-sized NBFC.

The official and the sources did not want to be identified as they are not authorised to speak to the media.

Bajaj Finance, SBI Cards, and L&T Finance did not respond to a Reuters' email seeking comment.

"The NBFCs which were heavily reliant on bank borrowings will now will have to raise funds from the capital markets," said Umesh Revankar, executive vice chairman at Shriram Finance.

The company will look to raise 50 billion rupees through retail deposits, external commercial borrowings, and capital markets for the rest of the fiscal year, Revankar said.

Refinitiv AAA-rated NBFC bond yields are between 7.75%-7.95% for two-year to five-year papers, while the three-year marginal cost of lending rates for top banks is in the 8.75%-9.25% range.

The gap in the cost of funds via banks and bond markets will widen further now.

The momentum of bank lending to NBFCs, other than those that lend to segments identified as priority sectors for lending, is likely to moderate, ratings agency CareEdge said in a note, adding highly-rated NBFCs will move towards the capital markets.

Banks' credit exposure to NBFCs stood at 14.2 trillion rupees in September, a 26.3% year-on-year growth, compared to overall bank credit in India, which grew about 15% over the past year.

NBFCs will look at options to raise funds at the most affordable rates, while keeping some portion of their borrowings with banks, said Sumit Bali, group executive and head - retail lending at Axis Bank.

With higher borrowings from NBFCs, rates on such bond market borrowings may also move up by at least 10 bps, especially for entities reliant on unsecured lending, said Raju Sharma, head - fixed income at IDBI Mutual Fund.

($1 = 83.2440 Indian rupees)

(Reporting by Siddhi Nayak and Dharamraj Dhutia; Editing by Sonia Cheema)

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MUMBAI, Nov 17 (Reuters) - India's largest lender State Bank of India expects minimal impact on its capital ratios from the tighter rules imposed by the central bank for personal loans, its chairman told Reuters in a phone interview.

The impact of the increased risk weight on personal loans, including credit cards, will be 55-60 basis points, Dinesh Kumar Khara said on Friday.

(Reporting by Ira Dugal; Editing by Nivedita Bhattacharjee)

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BENGALURU, Oct 31 (Reuters) - SBI Cards and Payment Services SBIC.NS and the retail unit of billionaire Mukesh Ambani's Reliance are set to launch a co-branded credit card on India's homegrown RuPay payment network, the companies said on Tuesday.

The partnership marks Reliance's foray into the credit card space and comes months after Ambani separately listed its financial services business as it seeks to diversify its already sprawling oil-to-retail business.

SBI Card could lure customers with access to rewards across Reliance Retail's 18,650 stores in India, at a time when credit card spending has boomed.

The ongoing festive season, when customers make most big-ticket purchases, is also expected to boost spending.

Data from the Reserve Bank of India showed credit cards in the network had surged nearly 20% year-on-year as of September.

SBI Card, India's no.2 credit card issuer majorly owned by top lender State Bank of India SBI.NS, will launch two variants of the card with Reliance Retail, which owns brands, including Reliance Digital, JioMart and Netmeds.

(Reporting by Chris Thomas in Bengaluru; Editing by Sohini Goswami)

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Oct 27 (Reuters) - SBI Cards and Payment Services Ltd SBIC.NS:

• INDIA'S SBI CARDS AND PAYMENT SERVICES Q2 PAT 6.03 BILLION RUPEES

• SBI CARDS AND PAYMENT SERVICES Q2 TOTAL REVENUE FROM OPERATIONS 40.87 BILLION RUPEES

• SBI CARDS AND PAYMENT SERVICES YEAR AGO Q2 PAT 5.26 BILLION RUPEES, TOTAL REVENUE FROM OPERATIONS 32.97 BILLION RUPEES

Source text for Eikon: [ID:]

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Aug 16 (Reuters) - SBI Cards and Payment Services Ltd SBIC.NS:

• ABHIJIT CHAKRAVORTY TAKES CHARGE AS THE NEW MD AND CEO OF SBI CARD - STATEMENT

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The author is a Reuters Breakingviews columnist. The opinions expressed are their own. Refiles to add links.

MUMBAI, Aug 7 (Reuters Breakingviews) - A near three-fold jump in net profit did little to cheer State Bank of India SBI.NS investors. Shares in the country’s largest lender fell 3% on Friday after it reported new bad loans doubled to $926 million during the three months to June from the previous quarter.

Loans to farmers and small business owners account for much of that, Chairman Dinesh Khara said. Its main rival, $150 billion HDFC Bank HDBK.NS, last month blamed lower repayments in its crop-loan portfolio for a small uptick in gross non-performing assets. April to June is seasonally weak for farm credit, and Khara said some delinquent accounts have already bounced back.

Meanwhile, $52 billion Bajaj Finance BJFN.NS told analysts in July it is slowing down lending to rural consumers on risk concerns. And delinquencies are rising at credit-card issuer SBI Cards and Payment Services SBIC.NS, where a cohort of retail customers the company won in 2019 accounted for a fifth of last quarter’s bad loans.

Granted, overall delinquencies remain low: gross non-performing assets are just 2.76% of SBI’s portfolio, and less than half that at HDFC Bank. The fear is, as one executive told Breakingviews, that this is worsening as pandemic-era support schemes wind down and interest rates rise. (By Shritama Bose)

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(Editing by Antony Currie and Thomas Shum)

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July 28 (Reuters) - SBI Cards and Payment Services Ltd SBIC.NS:

• JUNE-QUARTER PAT 5.93 BILLION RUPEES VERSUS PROFIT 6.27 BILLION RUPEES

• JUNE-QUARTER TOTAL REVENUE FROM OPERATIONS 39.12 BILLION RUPEES VERSUS 31 BILLION RUPEES

Source text for Eikon: [ID:]

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Adds company comments in paragraphs 5 and 7, updates share movement in paragraph 12

BENGALURU, July 26 (Reuters) - Indian non-bank lender Bajaj Finance BJFN.NS reported a bigger-than-expected increase in quarterly profit on Wednesday, boosted by healthy loan growth and strong customer additions.

The company's consolidated profit after tax rose a little over 32% to 34.37 billion rupees ($419 million) in the first quarter, beating analysts' average estimate of 33.24 billion rupees, according to Refinitiv data.

Bajaj Finance had already reported its new loan bookings grew 34% year-on-year in the quarter, while its deposits book jumped 46%, both rising more than they did in the previous quarter. It added 3.84 million new customers, its highest for any quarter ever.

Net interest income (NII), the difference between interest earned on loans and paid on deposits, rose 26% to 83.98 billion rupees, while interest income jumped nearly 37%.

"We expect gradual moderation in NII to continue through fiscal 2024," the company said in an investor presentation.

Its asset quality also improved, with gross non-performing assets (NPA) as a percentage of total loans improving to 0.87% at the end of June, from 0.94% at end-March.

Bajaj Finance expects its gross NPA to be 1.2%-1.4% in the long term but did not specify a timeline.

Despite April-June being a slow period historically for lenders, non-banking financial companies, or NBFCs, are expected to have benefited this time around from the robust momentum of strong disbursement activity in the previous quarter.

Last week, L&T Financial Holdings LTFH.NS said its June-quarter profit doubled. Shriram Finance SHMF.NS and SBI Cards and Payment Services SBIC.NS will report later this week.

Bajaj Finance's assets under management (AUM) rose 9% sequentially to 499 billion rupees.

Its shares were down 2.2% on the day. They had surged nearly 39% since hitting a 52-week low in late March, while the Nifty financials index .NIFTYFIN has risen 7% in the same four-month period.

($1 = 82.0050 Indian rupees)

(Reporting by Varun Vyas in Bengaluru; Editing by Savio D'Souza)

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