Buy SBI Cards and Payment Services For Target Rs 975 – Yes Securities
Largely in-line performance, adjusted for unusual fees and credit cost SBI Card delivered 6% PAT beat on our expectation which was characterized by 1) sustained significant gross card addition (up 37% yoy), 2) stronger spends growth (retail spends up 2% qoq/33% yoy), 3) stronger receivables growth (up 5% qoq/30% yoy)Read More