Economic TimesLean R·
India's SBI Card posts higher quarterly profit on asset quality boost
SBI Cards announced an impressive profit surge attributed to lower provisions for bad loans. A remarkable rise in card spending highlighted robust consumer and corporate appetite, alongside a boost in total revenue propelled by increased transaction volumes across their card offerings. Furthermore, the company's asset quality has notably improved with a decline in gross non-performing assets and a significant yearly drop in loan loss provisions and credit costs.
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