SBI Cards and Payment Services plunges 7% after Q2 earnings
SBI Cards and Payment Services reported net interest income (NII) growth of 21% YoY and 3% QoQ at Rs 1,116 crore. The net interest margin for Q2FY23 declined by 90 bps to 12.3% on a sequential basis, mainly due to an increase in the cost of funds. Provisions for the second quarter FY23 were down 8% YoY but up 21% QoQ.
