SBI Cards' Q1 FY25 net profit remains flat at ₹594 crore due to rising delinquencies and increased impairment losses.
SBI Cards reported a flat net profit of ₹594 crore in Q1 of FY25 due to rising delinquencies. Total income increased to ₹4,483 crore, but gross non-performing assets reached 3.06% of gross advances, and net non-performing assets increased to 1.11% from 0.89%. Impairment losses and bad debt expenses rose by 53% to ₹1,101 crore, and the capital adequacy ratio decreased to 20.6%.
July 26, 2024
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