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About the Company

SBI Cards and Payment Services Ltd - PA Wealth

SBI Card, a subsidiary of the State Bank of India, is a leading credit card issuer in India, offering a wide range of credit cards to consumers. It was established as a joint venture between SBI and GE Capital, later becoming a publicly listed company. SBI Card focuses on providing innovative payment solutions and aims to simplify the lives of its customers. 

Here’s a more detailed breakdown:
  • History:

    SBI Card was launched in 1998 as a joint venture between State Bank of India and GE Capital. 

  • Ownership:

    It is now a subsidiary of State Bank of India, with The Carlyle Group also holding a stake. 

  • Operations:

    SBI Card manages customer acquisition, marketing, and risk management, while GE Capital handles technology and processing. 

  • Products and Services:

    SBI Card offers various credit cards, including those for travel, lifestyle, and business. 

  • Market Position:

    It is the second-largest credit card issuer in India and the largest pure-play credit card issuer. 

  • Focus:

    SBI Card emphasizes customer-centricity, aiming to simplify financial lives through its products and services. 

  • Recent Changes:
    In 2020, SBI Card became the first pure-play credit card company to be listed on Indian stock exchanges. 
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