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SBI Cards and Payment Services announced that Abhijit Chakravorty has tendered his resignation from the position of managing director (MD) & chief executive officer (CEO) of the company, effective from the close of business hours on 31 March 2025.
Following his retirement from the company, he will also cease to be the MD & CEO of the State Bank of India from that date, the company added.
SBI Cards and Payment Services (SBI Card) is a non-banking financial company that offers an extensive credit card portfolio to individual cardholders and corporate clients. This includes lifestyle, rewards, travel & fuel, and banking partnership cards, along with corporate cards that cover all major cardholder segments in terms of income profiles and lifestyles.
The company reported a standalone net profit of Rs 383.23 crore in Q3 FY25, down 30.2% compared to Rs 549.08 crore posted in Q3 FY24. Total revenue from operations rose marginally by 0.5% to Rs 4,766.56 crore in Q3 FY25, compared with Rs 4,741.60 crore in Q3 FY24.
The scrip rose 1.39% to end at Rs 882.20 on Friday, 28 March 2025. The stock market will remain shut today in observance of Eid-ul-Fitr.
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