SBI Cards and Payment Services Limited has allotted 5,138 equity shares to eligible employees following the exercise of options under two ESOP plans. The Nomination and Remuneration Committee approved the allotment on April 28, 2026, comprising 2,000 shares under ESOP Plan 2019 at Rs. 152.10 per share and 3,138 shares under ESOP Plan 2023 at Rs. 10 per share. Post-allotment, the company's paid-up capital increased to Rs. 9,51,60,53,890 from Rs. 9,51,60,02,510.

SBI Cards and Payment Services Limited Allots 5,138 Equity Shares Under ESOP Plans

SBI Cards and Payment Services Limited has completed the allotment of 5,138 equity shares to eligible employees following the exercise of options under its Employee Stock Option Plans. The Nomination and Remuneration Committee of the Board approved the allotment through its resolution dated April 28, 2026.

ESOP Plan Details

The allotment was divided between two ESOP plans. Under the SBI Card - Employee Stock Option Plan 2019 (ESOP Plan 2019), the company allotted 2,000 equity shares with a face value of Rs. 10 each at an exercise price of Rs. 152.10 per share. Additionally, under the SBI Card - Employee Stock Option Plan 2023 (ESOP Plan 2023), 3,138 equity shares with a face value of Rs. 10 each were allotted at an exercise price of Rs. 10 per share.

ESOP Plan Shares Allotted Face Value Exercise Price ESOP Plan 2019 2,000 Rs. 10 Rs. 152.10 ESOP Plan 2023 3,138 Rs. 10 Rs. 10

Capital Structure Update

Following the allotment, the company's paid-up capital has increased. The paid-up capital now stands at Rs. 9,51,60,53,890, comprising 95,16,05,389 equity shares of face value Rs. 10 each. This represents an increase from the previous paid-up capital of Rs. 9,51,60,02,510, which consisted of 95,16,00,251 equity shares of face value Rs. 10 each.

The intimation regarding this allotment has been uploaded on the company's official website at www.sbicard.com . The event was recorded on April 28, 2026, at around 11:59 PM, as confirmed by Payal Mittal Chhabra, Chief Compliance Officer and Company Secretary of SBI Cards and Payment Services Limited.

SBI Cards has provided comprehensive financial guidance for FY27, outlining expectations for key operational metrics including new Return on Assets targets and asset growth strategy while highlighting potential risks from macroeconomic uncertainties during recent conference call updates.

Net Interest Margin Outlook

The credit card company expects its Net Interest Margin to remain stable in FY27, though management has cautioned about potential risks. The stability of NIM faces challenges from any significant increase in the cost of funds, particularly given uncertain macroeconomic conditions that could impact funding costs.

Cost-to-Income Ratio and ROA Guidance

SBI Cards has maintained its operational efficiency targets for FY27, setting clear expectations for cost management performance and profitability metrics. The company has established medium-term Return on Assets targets alongside its cost-to-income ratio guidance.

Parameter FY27 Guidance Cost-to-Income Ratio 55.00% to 58.00% Net Interest Margin Expected to remain stable Return on Assets (ROA) 4.00% to 4.50% (medium term) Asset Growth Strategy Expected to follow card acquisition growth

Asset Growth and Strategic Direction

While no specific guidance was provided for asset growth, management expects it to follow card acquisition growth patterns. This approach indicates the company's strategy of aligning asset expansion with customer acquisition momentum, ensuring sustainable growth across both metrics.

Strategic Initiatives for Operational Efficiency

The company is implementing a comprehensive dual approach to achieve its cost-to-income ratio targets while maintaining NIM stability and ROA objectives. SBI Cards has outlined strategic initiatives designed to enhance operational performance across key areas:

Expense containment measures to optimize operational costs

Revenue enhancement strategies to drive higher income generation

Risk management protocols to address macroeconomic uncertainties

Asset quality management to support ROA targets

This balanced approach demonstrates the company's commitment to maintaining operational discipline while navigating potential challenges from uncertain macroeconomic conditions. The guidance provided during the conference call reflects management's strategic focus on efficiency metrics, margin protection, and profitability enhancement through the medium term.

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