Q4 2024 SBI Cards and Payment Services Ltd Earnings Call Transcript

Apr 29, 2024

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Apr 26, 2024 / 01:00PM GMT
Operator

Ladies and gentlemen, good day, and welcome to SBI Cards & Payment Services Limited Q4 FY '24 Earnings Conference Call. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Abhijit Chakravorty, MD and CEO. Thank you, and over to you, sir.

Abhijit Chakravorty - SBI Cards and Payment Services Ltd - CEO, MD

Good evening, everyone. I'm pleased to welcome you to the Q4 FY '24 and FY '24 earnings call, along with my senior management team at SBI Card. India has sustained its growth momentum and surpassed all projections despite issues on global fronts. The second advanced estimates placed real GDP growth at 7.6% for FY '23, '24, the third successive year of 7% or higher growth. The urban consumption stays buoyant. Credit cards have been significant contributor to the overall digital growth in the country. 21% growth in the number of cards in H2 2023. And credit card transactions value stood at INR 9.39 trillion and saw a rise of 11% during the same period. Total number of credit cards in the industry

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