SBI Cards and Payment Services has completed a significant asset sale by transferring ₹1,800 crore worth of stressed credit card debt to Mumbai-based non-banking financial company (NBFC) Integro Finserv. According to reports from The Economic Times, this transaction represents one of the largest bad loan sales by SBI Cards in the last four years, following a ₹200 crore portfolio sale to Encore ARC in 2022. The sale is part of a broader strategy to control increasing delinquencies and strengthen the quality of SBI Cards' credit card portfolio. As per The Economic Times, this non-performing asset sale is a critical aspect of SBI Cards' plan to address mounting delinquencies and elevate the overall quality of its credit card offerings.
SBI Cards and Payment Services manages a credit card receivables book of approximately ₹60,000 crore and maintains its position as one of India's largest credit card issuers with more than 20 million cards in force. As reported by The Economic Times, the company holds an estimated market share of 18%, making it one of the top three players in the sector. The business continues to serve as a significant profitability driver for the broader State Bank of India group, supported by strong margins, steady fee-based income, and high returns on assets despite inherent credit risks associated with the segment.
According to The Economic Times, as of March 31, 2025, SBI Cards and Payment Services reported a gross NPA ratio of 3.08% and a net NPA of 1.46%. The asset quality deteriorated slightly compared to the previous year, with gross NPA at 2.76% and net NPA at 0.99% as of March 31, 2024. This sale represents a strategic move to address mounting delinquencies and improve overall portfolio quality through the transfer of stressed assets to specialized financial institutions.
Founded by KP Sreejith in 2019, Integro Finserv has established itself in the distressed retail asset space with assets under management of ₹5,256 crore across 4,67,522 accounts. As reported by The Economic Times, the non-deposit-taking NBFC operates a nationwide recovery infrastructure supported by a network of over 400 field-level legal professionals. The transaction occurs within a broader market context, with banks sharply accelerating retail NPA sales to asset reconstruction companies, with transactions rising to ₹24,814 crore from ₹9,093 crore as of December 2025, reflecting aggressive balance sheet cleanup efforts.
