SBI Card was launched in October 1998 by the State Bank of India and GE Capital. Incorporated as SBI Cards and Payment Services Private Limited (SBICPSL), SBI Card is headquartered in Gurgaon, Haryana.
In December 2017, State Bank of India and The Carlyle Group acquired GE Capital`s stake in the joint venture. SBI holds 74% while Carlyle holds 26% in the joint venture..
The legal name of SBI Card was changed on 20 August ’19, from SBI Cards and Payment Services Private Limited to SBI Cards and Payment Services Limited, on account of its conversion from a “Private Limited” company to a “Public Limited” company.
The aim of SBI Card is to offer Indian consumers access to a wide range of world-class, value-added payment products and services. Our endeavor is to simplify the lives of our customers, employees and other important stakeholders.
Our innovative products and services along with our responsible corporate citizenship practices form the framework of delivering on this promise.
Within a short span of 10 months, we achieved a credit card customer base of 1 lakh. We entered the '1Million Card Club’ in 2002 and crossed the 2 million card base in 2005.
Today, with over 9 million credit card customers, we are the second largest credit card issuer in the country.
