Hot Pursuit     06-Jun-23
SBI Card board OKs raising Rs 3,000 cr via NCDs
SBI Cards and Payment Services announced that its board of directors approved raising of funds by way of issuance of non-convertible debentures (NCDs) aggregating to Rs 3,000 crore.
The NBFC said that the issue will be made in one or more tranches, on private placement basis.

SBI Cards and Payment Services is a non-banking financial company that offers extensive credit card portfolio to individual cardholders and corporate clients.

SBI Cards and Payment Services reported a 2.7% rise in net profit to Rs 596.47 crore on 29.9% jump in total income to Rs 3,916.57 crore in Q4 FY23 over Q4 FY22.

Shares of SBI Cards and Payment Services were down 0.26% to Rs 971.35 on the BSE.

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