Mumbai: SBI Cards and Payment Services, a listed subsidiary of State Bank of India, has sold stressed credit card debt pool worth approximately ₹1,800 crore to Mumbai-based non-banking financial company (NBFC) Integro Finserv, said sources aware of the development.
This non-performing asset (NPA) sale is part of a wider effort to control increasing delinquencies and strengthen the quality of its credit card portfolio. It is one of the largest bad loan sales by SBI Cards in the last 4 years. In 2022, SBI Cards had sold a ₹200 crore portfolio to Encore ARC.
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SBI Cards and Payment Services manages a credit card receivables book of close to ₹60,000 crore. It is among India's largest credit card issuers, with more than 20 million cards in force and an estimated market share of 18%, making it one of the top three players in the sector.
The business remains 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 the inherent credit risks associated with the segment.
As of March 31, 2025, SBI Cards and Payment Services reported a gross NPA ratio of 3.08%. The net NPA was 1.46%. The asset quality deteriorated slightly compared to the previous year, as gross NPA was 2.76% and net NPA was 0.99% as of March 31, 2024.
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Mails sent to SBI Cards did not elicit any responses, while a spokesperson with Integro declined to comment.
Founded by KP Sreejith in 2019, Integro Finserv has built a sizable presence in the distressed retail asset space, with assets under management of ₹5,256 crore, under 4,67,522 accounts.
According to the website, Integro follows a model of acquisition, legal resolution, and relending to maximise recoveries and reintegrate borrowers into India's formal credit system.
The non-deposit-taking NBFC operates a nationwide recovery infrastructure, supported by a network of over 400 field-level legal professionals.
Banks sharply accelerated the sale of retail NPAs to asset reconstruction companies (ARCs) by December 2025, with transactions rising to ₹24,814 crore from ₹9,093 crore as of September, reflecting an aggressive push to clean up balance sheets.
According to ARC estimates, the implied recovery rate on these retail bad loans remains relatively low at around 15%, highlighting both the growing pressure in the segment and the limited recovery expectations for lenders.
This non-performing asset (NPA) sale is part of a wider effort to control increasing delinquencies and strengthen the quality of its credit card portfolio. It is one of the largest bad loan sales by SBI Cards in the last 4 years. In 2022, SBI Cards had sold a ₹200 crore portfolio to Encore ARC.
Also Read: Finance Ministry asks PSBs to complete wage revision process in next 12 months
SBI Cards and Payment Services manages a credit card receivables book of close to ₹60,000 crore. It is among India's largest credit card issuers, with more than 20 million cards in force and an estimated market share of 18%, making it one of the top three players in the sector.
The business remains 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 the inherent credit risks associated with the segment.
As of March 31, 2025, SBI Cards and Payment Services reported a gross NPA ratio of 3.08%. The net NPA was 1.46%. The asset quality deteriorated slightly compared to the previous year, as gross NPA was 2.76% and net NPA was 0.99% as of March 31, 2024.
Also Read: RBI cancels Paytm bank license, to approach high court
Mails sent to SBI Cards did not elicit any responses, while a spokesperson with Integro declined to comment.
Founded by KP Sreejith in 2019, Integro Finserv has built a sizable presence in the distressed retail asset space, with assets under management of ₹5,256 crore, under 4,67,522 accounts.
According to the website, Integro follows a model of acquisition, legal resolution, and relending to maximise recoveries and reintegrate borrowers into India's formal credit system.
The non-deposit-taking NBFC operates a nationwide recovery infrastructure, supported by a network of over 400 field-level legal professionals.
Banks sharply accelerated the sale of retail NPAs to asset reconstruction companies (ARCs) by December 2025, with transactions rising to ₹24,814 crore from ₹9,093 crore as of September, reflecting an aggressive push to clean up balance sheets.
According to ARC estimates, the implied recovery rate on these retail bad loans remains relatively low at around 15%, highlighting both the growing pressure in the segment and the limited recovery expectations for lenders.
