### **Key Metrics (as of FY2024-25 / June 2025)** - **Cards-in-Force (CIF):** 2.08 crore (20.8 million), reflecting a **10% YoY growth**. - **Market Share:** Over **19% in cards-in-force** (RBI, March 2025); **19.1% as of June 2025**. - **Card Spend Volume:** Over **₹3 lakh crore in retail spends**, with a **21% YoY growth** in overall card spends and **15% in retail-only spends**. - **Three-Year CAGR:** - Card spends: **>21.4%** - Cards-in-force: **~14.8%** - **Active Users:** Over **50% of customers actively use their cards monthly**, indicating strong engagement. SBI Cards is a key beneficiary of India’s underpenetrated credit market, where only **~5% of the population holds a credit card**, and digital payment adoption continues to surge. --- ## **Growth Strategy & Strategic Focus** ### **1. Product Innovation & Portfolio Expansion** SBI Cards is actively broadening its product offerings with a sharp focus on **premium and co-branded cards** to meet evolving consumer aspirations: - **SBI Card MILES (FY2024-25):** A travel-focused premium card allowing conversion of travel credits into air miles/hotel points, with partnerships across **20+ airlines and hotel chains**. Targets platform-agnostic travelers. - **KrisFlyer SBI Card:** A super-premium co-branded card with **Singapore Airlines**, offering accelerated rewards for international and travel spends. - **Reliance SBI Card & Reliance SBI Card PRIME:** Launched in FY2023-24, these cards integrate benefits across Reliance Retail’s wide ecosystem (fashion, groceries, electronics, etc.). - **Titan SBI Card:** Targets aspirational spending in lifestyle segments like jewelry, watches, and ethnic wear. - **CASHBACK SBI Card:** Industry-first card offering **5% cashback on all online spends, 1% offline** – no merchant restrictions. - **BPCL SBI Card:** One of India’s largest fuel co-brand programs, with **over 4 million cards issued**. - **Eco-conscious Design:** Co-branded cards made from **100% recycled plastic**. SBI Cards offers over **30 credit card variants**, catering to diverse segments—from mass market and new-to-credit customers to affluent and super-premium (e.g., **AURUM** by invitation only). --- ### **2. Digital-First Transformation** Digitization is central to SBI Cards’ future growth and operational efficiency. #### **Digital Sourcing & Onboarding:** - **SBI Card SPRINT:** A fully digital, end-to-end platform enabling: - Instant credit card issuance using **65+ APIs** integrating internal/external systems. - Integration with **SBI’s YONO app** and **internet banking**, enabling self-application and lead referrals. - Use of **AI/ML** for faster decisioning, **e-KYC**, **DigiLocker**, and **biometric verification**. - **E-card issuance within minutes** for immediate online use. - **Digital Acquisition Growth:** ~860,000 credit cards issued digitally in FY2024-25; most Banca-related accounts now processed digitally. - **Digital Penetration:** Over **56–60% of new customers** are first-time credit card users, sourced primarily via the **bancassurance (Banca) channel**. #### **Data & AI-Driven Capabilities:** - **Data Lake Platform:** Consolidates data from multiple systems to enable: - Real-time analytics for **personalized offers**, risk models, and customer segmentation. - AI/ML-powered **credit decision engines** (e.g., **Blaze**) for faster, more accurate lending. - **Pre-Screening Automation:** Uses AI to automate **address matching, KYC validation, and surrogate identification**, reducing costs and errors. - **Predictive Analytics:** Used for collections, fraud detection, cross-selling, and lifecycle management. #### **Customer Engagement & Experience:** - **Hyper-Personalization Platform:** Enables **one-to-one communication** via the mobile app with **micro-segmentation** and tailored campaigns. - **SBI Card Mobile App:** Rated **4.6/5 (iOS)** and **4.4/5 (Android)**, highest among Indian credit card apps. - **ASKILA (AI Chatbot):** Handles millions of queries monthly; supports bill payments, servicing, and self-help. - **Real-time Credit Limit Adjustments, Instant Callbacks, and Proactive Messaging** (e.g., vernacular post-first-spend calls). --- ## **Geographic & Demographic Expansion** ### **Focus on Tier 2/3 Cities & Rural India** - Significant growth in **Tier 2 and Tier 3+ cities**, driven by rising affluence, digital adoption, and UPI penetration. - **Targeting 400 million youth (18–33 years)** in semi-urban and rural India, where credit penetration is just **8%**. - Local partnerships and **regional offers** across 2,700 cities during festive seasons to deepen engagement. ### **New-to-Credit Focus** - Over half of new acquisitions are **first-time credit card users**, supporting financial inclusion. - Special risk models for **new-to-credit customers** to assess creditworthiness with limited history. --- ## **Technology & Partnerships: Core Growth Enablers** ### **Strategic Alliances** - **E-commerce Platforms:** Partnerships with **Paytm, Google Pay, JioPay, Flipkart, and Amazon**. - **Co-Branding:** 21+ co-brand partners including **Reliance, Titan, BPCL, Apollo Hospitals, Ola, IRCTC, Delhi Metro**, and international airlines. - **Payment Networks:** Cards issued on **Visa, Mastercard, RuPay, and American Express**. - **Brand Collaborations:** Apple iPhone 16 launch campaign boosted visibility and access to premium customers. ### **Technology Infrastructure** - **Robust IT Ecosystem:** 24/7 availability, SD-WAN for contact centers, in-house applications. - **Disaster Recovery:** Full DR setup for mission-critical systems; **Turbine 2.0 program** to scale Data Lake infrastructure for future growth. - **Tokenization:** Fully implemented across Visa, Mastercard, and RuPay for secure digital payments. --- ## **Digital Payments & UPI Integration** - **SBI Card on UPI (via RuPay):** - Over **20 lakh UPI registrations** achieved. - UPI spend per active RuPay user: **₹12,500/month**. - UPI usage higher in **Tier II+ cities** than Tier I, expanding acceptance. - **SBI Card SPRINT** integrated with UPI and RuPay to tap into India’s $1T+ digital payments landscape. - UPI is a **key growth driver**, especially for younger, digitally native users and new-to-credit segments. --- ## **Management & Governance** - **Leadership:** Previously led by **Ashwini Kumar Tewari**, former MD & CEO, who drove digital and partnership strategy. Oversight continues from SBI’s Corporate Banking & Subsidiaries leadership (including **Swaminathan Janakiraman**). - **Corporate Governance:** Strong alignment with SBI’s strategic vision; emphasis on ESG. - **ESG Recognition:** - **‘A’ rating from MSCI** - **16.5 ESG Risk Rating from Sustainalytics** (‘low risk’ category). --- ## **Recognition & Awards** - **ET NOW Best BFSI Brands 2025** - **ET BFSI Exceller Awards 2024** for Digital Customer Experience - High app ratings and customer satisfaction reflect market leadership in **digital user experience**.