Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Transcript - SBI Card Q1''FY 27 Earnings Call

July 30, 2026 The BSE Limited The National Stock Exchange of India Corporate Relationship Department. Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street, Bandra-Kurla Complex. Mumbai - 400 001 Bandra (E), Mumbai - 400 051 SCRIP CODE: 543066 SYMBOL: SBICARD SECURITY: Equity Shares/Debentures SECURITY: Equity Shares Dear Sirs, Re: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Transcript - SBI Card Q1'FY 27 Earnings Call In compliance with the provisions of Regulation 30 read with Schedule III Part A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, transcript of the Earnings Call held on July 24, 2026 with analysts/ investors, has been made available on the website of the Company at the below mentioned link. Further, the same is also attached herewith for reference. https://www.sbicard.com/en/who-we-are/analyst-investor-meeting.page Kindly take the same on record. Thanking you, Yours faithfully, For SBI Cards and Payment Services Limited Payal Mittal Chhabra Chief Compliance Officer & Company Secretary Date & Time of event: - July 24, 2026 at 06:00 PM Encl:.aa SBI Cards and Payment Services Ltd. DLF Infinity Towers, Tower C, Tel.: 18001801290 Registered Office: 12th Floor, Block 2, Building 3, Email: customercare@sbicard.com Unit 401 & 402, 4th Floor, Aggarwal Millennium Tower, DLF Cyber City, Gurugram - 122002, Website: sbicard.com E 1,2,3, Netaji Subhash Place, Wazirpur, New Delhi - 110034 Haryana, India CIN - L65999DL1998PLC093849 “SBI Cards and Payment Services Limited Q1FY27 Earnings Conference Call” July 24, 2026 MANAGEMENT: MS. SALILA PANDE – MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER MR. GIRISH BUDHIRAJA – CHIEF SALES AND MARKETING OFFICER MS. RASHMI MOHANTY – CHIEF FINANCIAL OFFICER MR. KRISHNA KANT BISHNOI – CHIEF RISK OFFICER Page 1 of 15 SBI Cards and Payment Services Limited July 24, 2026 Moderator: Ladies and gentlemen, good day, and welcome to SBI Cards and Payment Services Limited Q1 of FY27 Earnings Conference Call. As a reminder, all participants line will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchtone phone. I now hand the conference over to Ms. Salila Pande, MD and CEO, SBI Cards. Thank you, and over to you, ma'am. Salila Pande: Thank you, Danish. A very good evening to everyone. Along with the senior management of SBI Cards, I extend a warm welcome and sincere thanks for joining us today for the Q1 FY27 earnings call. India's macroeconomic fundamentals continue to provide a strong foundation for the long-term growth. Even amid a volatile global environment, the Indian economy remains amongst the fastest-growing major economies. The GDP is projected to expand around 6.6% in FY26-27, supported by strong momentum in private consumption and services. Alongside stable economic state, India's rapid digital transformation is reshaping how consumers and business transact, creating a stronger foundation for digital financial services. India's digital payment ecosystem continues to expand rapidly, supported by strong merchant payments growth and an extensive QR network infrastructure. India has emerged as a global leader in real-time digital payments, with 49% of the worldwide transaction volume and UPI serving as the backbone of the country's digital economy, enabling instant and secure payments on scale. The future of financial services lies in the convergence of payments and credit. The UPI drives engagement and credit cards deepen customer relationships through credit access, flexibility, rewards and trust. A significant development has been the growing adoption of RuPay credit cards on UPI, which is expanding the role of credit cards. This structural evolution is translating into sustained growth for the credit card industry. India now has 121 million credit cards in circulation. Looking ahead, the industry is projected to grow consistently over the next decade. The regulatory environment has also evolved significantly, with increased emphasis on responsible lending, customer suitability, digital resilience, cybersecurity and customer protection. We believe these measures are positive for the long-term health of the industry and will further strengthen customer confidence in digital payments and financial services. At SBI Cards, our strategy remains focused on strengthening our market position through disciplined execution, customer-centric innovation and sustained investments in digital capabilities. As the industry continues to evolve, we will continue to build a business that delivers sustainable growth while creating long-term value. To support this strategy, following key priorities will define the next phase of growth. Page 2 of 15 SBI Cards and Payment Services Limited July 24, 2026 We will grow Banca as a channel and acquire premium customers digitally with high spending patterns and good credit scores; strengthen our diversified core and co-brand product portfolio across all key sectors, including lifestyle, retail, travel, among others; expand our reach in potential growth markets, including Tier 2 and Tier 3 cities, along with the metros. Continue to invest in next-generation digital capabilities to elevate and simplify customer journey; harness data and analytics to enhance customer insights and engagement; strengthen credit decision making, maintain robust underwriting standards; prudent risk management and reinforce portfolio quality. Our strong market position, with 18.6% market share in cards in force and 19.5% share in card spends reinforces confidence in our strategy and our ability to deliver sustainable growth in the evolving credit card markets. As a customer-centric organization, SBI Cards continues to focus on various initiatives during the quarter. We expanded our strategic partnerships to introduce relevant national, regional and local offers, broadening customer choice. SBI Cards' varied initiatives have been recognized and bestowed with many prestigious awards. We were honoured with the prestigious Abby Awards for Best Use of Augmented Reality, and the ET Brand Disruption Awards for most disruptive customer experience and engagement. The awards recognize our continued focus on innovation and enhancing customer experiences. I'm pleased to share that during the quarter, our core brand BPCL SBI Card crossed the 5 million milestone, making it one of the largest fuel co-branded credit card partnerships in India. As regards to business performance, building on the momentum from the second half of FY26, we began the financial year FY27 by delivering on our stated objective across business and financial metrics. I'm pleased to share that as of now, SBI Cards is the second largest credit card player in terms of cards in force, spends as well as transactions. Cards in force have grown to around INR2.26 crores, witnessing a 7% growth Y-o-Y. In alignment with our stated strategy and road map, we successfully added more than 1 million new accounts in Q1 FY27, with 17% Y-o-Y growth. As per the RBI data released yesterday, SBI Card has made a net card addition of INR4.84 lakhs, which is highest in the industry for the quarter. Our sourcing distribution remains balanced, with about 47% sourcing from Banca and 53% from the open market. As per RBI June 2026 data, our spend market share has grown to 19.5% versus 18.1% in FY26. Total spends have reached highest ever level of INR1,18,475 crores in Q1 of FY27, growing 27% Y-o-Y. Retail spend also reached INR94,033 crores with a 14% Y-o-Y growth. We have seen good growth in both POS and online spend across most spend categories. Key ones include consumer durables, furnishing and hardware, apparel and jewellery. Online spend continued to be strong and contributed to [Showing first 8,000 characters — download PDF for full document]