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

“We wish to inform you that the Board of Directors of the company, at its meeting held today, has inter alia, declared an Interim Dividend of ₹2.50 (Rupees Two and Fifty Paise) (25 percent) per equity share (face value ofRs. 10/-each) of the company for the financial year 2023-24,” the filing said.

It added that the record date to determine the entitlement of payment of the interim dividend is March 28, and the interim dividend will be credited on or before April 17, 2024.

The share price closed at ₹700 on March 19, 2024.

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 services provider reported an 8 per cent growth in its net profit at ₹549 crore in the third quarter of FY24, from ₹509 crore in the same period a year ago.

Its total income surged 30 per cent year-on-year at ₹4,742 crore in Q3 of FY24 from ₹3,656 crore in Q3 of last fiscal year.

SBI Card said its gross non-performing assets (GNPAs) stood at 2.64 per cent of gross advances as of December 31, 2023, up from 2.35 per cent as of March 31, 2023. Net NPAs stood at 0.96 per cent as of December 31, 2023, as against 0.87 per cent as of March 31, 2023.

Finance costs rose by 50% in the December quarter from last fiscal year.

Its total expenses rose to ₹4,004.01 crore in in December quarter of the fiscal year 2024 from ₹2,971.82 crore in the same period of last fiscal year.

In the reported third quarter, the aggregate amount spent by cardholders surged 41% to ₹96,860 crore for the company.

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Published: 20 Mar 2024, 07:16 AM IST