• SBI Cards performance: Ranked second in cards in force and third in spends, the standalone business has revamped its underwriting and risk management over the past year to lower delinquencies and return to robust growth.
• SBI Payments role: The subsidiary handles point-of-sale activities for the parent bank and serves as a synergistic strategic lever across SBI's broader payments ecosystem rather than a standalone play.
• SBI General growth: The non-life insurer is growing at 1.4 times the market rate in FY25–26 with strong underwriting metrics and is slated as a potential listing candidate following the mutual fund unit.
• AMC listing timeline: SBI expects to conclude the public listing of its asset management company within the current fiscal year, which will further bolster capital adequacy even as CRAR already exceeds 15% for the first time.