SBI Cards on growth path post pandemic: CEO Rama Mohan Rao Amara

SBI Cards & Payment Services has positioned itself for post-pandemic growth, CEO and Managing Director Rama Mohan Rao Amara told CNBC-TV18. The remarks come after the payment solutions provider reported a weak set of earnings for the September quarter though provisions came down.

“The spend story has been a pretty good story. We were able to spot the opportunities, we were able to see the revival, which was coming back very strongly on the backdrop of this COVID-19 vaccination coverage improving etc., and positioned ourselves in a right way with the right offers and right merchant partnerships, which has culminated in very good growth in retail spends,” Amara said.

On card issuance, he said, “We want to come back to a usable capacity of 10,000 new accounts per day and we are happy to say that we have even crossed during the quarter. So our endeavour will be to continue this momentum and also ramp it up further as we make progress in terms of digitisation and provide end to end opportunities.”