SBI Cards & Payments Services Ltd., previously known as SBI Cards and Payment Services Private Limited, is a payment solutions provider in India. SBI Card was launched in October 1998 by the State Bank of India, India's largest bank, and GE Capital. In December 2017, State Bank of India and The Carlyle Group.acquired GE Capital`s stake in the Company. SBI Card is headquartered in Gurgaon, Haryana/Delhi NCR and have branches in over 100 cities across India. For the financial year ending March 31, 2016, SBI Card recorded a net profit of ₹271 crore and a profit before tax of about ₹438 crore.

Competitive Strengths
1. 2nd largest credit card issuer in India with a strong track record of growth and profitability.
2. Leading player in open market customer acquisitions using physical and digital channels in India.
3. A well-known promoter in SBI with strong brand recognition.
4. Diversified credit card portfolio and partnerships with leading brands across industries.

Shareholding

State Bank of India held 60% share in SBI Cards & Payment Services Limited (SBICPSL) and 40% share in GE Capital Business Processes Management Services Limited GECBPMSL. GE Capital held 60% in GE Capital Business Processes Management Services Limited and 40% in SBI Cards & Payment Services Limited.
In 2017, GE Capital exited its JV with State Bank of India as a part of its global strategy to exit financial services sector. Following this development, State Bank of India increased its share to 74% and The Carlyle Group invested 26% in both the entities while replacing GE Capital. SBI Card is now in the process of merging both the entities into one.

SBI Credit Card Portfolio

SBI Card has a wide portfolio catering to both individual and corporate customers. It offers variety of cards across consumer segments that include:
  • Premium Cards - SBI Card Elite, SBI Card PRIME, Doctor’s SBI Card
  • Classic Cards - SimplySAVE SBI Card
  • Industry first initiatives- SimplyCLICK SBI Card, SBI Card Unnati
  • Corporate cards - SBI Signature Corporate Card, SBI Platinum Corporate Card
  • Co-branded cards – Ola Money SBI Card, Etihad Guest SBI Card, Apollo SBI Card, BPCL SBI Card, IRCTC SBI Card, TATA Cards, Yatra SBI Card, fbb SBI STYLEUP Card, Air India SBI Card, Mumbai Metro SBI Card, Capital First SBI Card 

 

New brand identity

In February 2019, SBI Card unveiled new brand identity designed to appeal to the millennial generation. The redefined identity reflects the brand’s contemporary and youth-focused outlook and its endeavour to build a stronger connect with millennial consumers. As part of the brand makeover, SBI Card also unveiled its new logo. The logo retains the blue Keyhole and SBI wordmark for while the styling for the word ‘Card’ has been changed to a more approachable typeface.