Company Overview of SBI Cards and Payment Services Private Limited
SBI Cards and Payment Services Private Limited markets and distributes SBI credit cards. The company offers various credit cards, such as premium, travel and shopping, classic, exclusive, and corporate cards. It also provides utility bill and card payment services. The company was founded in 1998 and is based in Gurgaon, India. SBI Cards and Payment Services Private Limited operates as a subsidiary of State Bank of India.
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Tower C, 10th–12th Floor
Block 2, Building 3
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Founded in 1998
Key Executives for SBI Cards and Payment Services Private Limited
Compensation as of Fiscal Year 2015.
SBI Cards and Payment Services Private Limited Key Developments
SBI Cards To Float Expression Of Interest For JV Partner
Nov 3 15
SBI Cards and Payment Services Private Limited said discussions were on to float expression of interest to identify a joint venture partner. "Right now, the discussions are progressing. By two weeks time the Expression of Interests will be called for (to identify the joint venture partner)," Vijay Jasuja, Chief Executive Officer of SBI Cards and Payment Services, told reporters.
Tata Front Runner For GE Capital’s Stake In SBI Cards
Sep 15 15
Tata Sons Limited has put its weight behind a bid for General Electric Capital Corporation's stake in SBI Cards and Payment Services Private Limited valued at INR 20 billion. Bombay House, Tata Sons Limited's headquarters, is working on a bid that will combine Tata Capital Limited and Tata Consultancy Services Limited.
Investors Reportedly Mulls Acquisition Of Stakes In SBI Cards from GE Capital
Sep 14 15
Investors reportedly including KKR & Co. L.P. (NYSE:KKR), Bain Capital, LLC and Baring Private Equity Asia, Capital One Financial Corporation (NYSE:COF), Fiserv, Inc. (NasdaqGS:FISV), Tata Capital Private Equity are among those believed to have been sounded out as General Electric Capital Corporation gears up to exit SBI Cards and Payment Services Private Limited, its credit cards joint venture with State Bank of India (NSEI:SBIN). General Electric Capital has mandated Morgan Stanley (NYSE:MS) to find a strategic partner to replace it in the JV. A formal sale process is scheduled to start by the end of this month, said multiple sources aware of the impending transaction. "The joint venture is looking for a new strategic partner. The process is about to begin. Teasers from the investment bank are going out to potential candidates who could be interested. The two shareholders will evaluate once the offers are on the table. We hope to complete the process in the next 6-9 months," said Vijay Jasuja, Chief Executive, SBI Cards & Payment Services. "GE Capital is exploring options to exit the SBI Card joint venture which is in line with GE's global strategy with regard to GE Capital, announced on April 10, 2015. GE Capital and SBI are at a very early stage in the process and no timelines have been defined," said a GE spokesperson. “GE's stake alone could fetch INR 20 billion at the least. "We are not looking at buying out GE Capital from our credit cards JV nor merging it with the bank. We are scouting for a new partner," SBI Managing Director and Group Executive for associate & subsidiaries VG Kannan had said. KKR, Bain and Fiserve declined to comment on what they termed as market rumour and speculation. Mails sent to Baring Asia, Tata Capital and Capital One late last week remained unanswered at the time of going to press on September 13, 2015.
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