#1
15th November 2016, 11:31 AM
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Ge sbi jv
Can you tell me about the Joint Venture - SBI Cards & Payments Services Pvt. Ltd. or SBICPSL- between GE Capital and SBI (State Bank of India)?
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#2
15th November 2016, 11:32 AM
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Re: Ge sbi jv
SBI Cards & Payments Services Pvt. Ltd. or SBICPSL is a payment solutions provider in India. It is incorporated as a joint venture between the State Bank of India, India's largest bank, and GE Capital. It is headquartered in Gurgaon, Haryana/ Delhi NCR and has branches in over 50 cities across India. For the financial year ended March 31, 2016, SBI Card recorded a net profit of ₹271 crore and profit before tax of about ₹438 crore. As of July 2016,the company has a customer base of 3.75 million credit cards GE Capital had, in 1998, partnered with State Bank of India to float two joint venture companies, including SBI Cards for developing credit card business in India. SBI Cards & Payment Services is the front end of the business focusing on marketing and distribution of credit cards. On the other hand, GE Capital Business Process Management Services takes care of technology and processing as a captive BPO unit. GE Capital owns 40 per cent in the former and 60% in the latter. SBI owns 60% in SBI Cards and Payment Services and 40% in the captive BPO unit. As on July 2016, State Bank of India was looking for a replacement for GE Capital in the credit card joint venture in accordance with General Electric's global plan to exit from finance business. Credit Cards GE Capital India offers credit card solutions in India through a joint venture, SBI Cards. The partnership, forged in 1998, leverages the synergies of both companies to offer Indian consumers a wide range of world-class, value-added payment products and services. SBI Cards SBI Cards offers several options in credit cards to customers in India. Customers have the choice of Gold & More, Platinum and several co-branded credit cards to choose from. SBI Credit Cards SBI Card caters to both the individual and corporate segments. SBI Card offers a number of cards under each of the following categories: • Premium Card • Classic Card • Travel & Shopping Card • Exclusive Card • Corporate Card Milestones of SBI Card • 1998: SBI Card enters the credit card space • 1999: Reaches the ‘1 Lakh’ mark within 10 months of launch • 2002: SBI Card enters the ’1 Million Cards’ club • 2002: First partnership with a public sector bank • 2003: SBI Card launches 8 Cities Affinity Cards with special tie-ups & offers • 2005: The 2 Million Cards Milestone crossed • 2006: SBI Card launches SBI Railway Card for Indian Railway travellers[ • 2006: The launch of co-brand cards, SBI Spicejet Card & TATA Cards, India’s first Loyalty cum Credit Car • 2006: SBI Card becomes second largestCredit Card issuer with 3 million cards • 2010: SBI Platinum Card launched • 2011: Launches chip-based EMV Cards • 2012: Launches SBI Signature Card for HNIs • 2013: SBI Card launches the Air India SBI Signature Card and the Air India SBI Platinum Card |
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