ICICI Prudential Mutual Fund increases stake in SBI Card to 7.3%

ICICI Prudential Mutual Fund has increased its stake in SBI Card and Payment Services to 7.30 percent. According to regulatory filings, the fund acquired 2,160,916 shares through the open market on August 25, 2026.

This transaction represents a 2.12 percentage point increase from the fund's previous holding of 5.18 percent. The move highlights growing institutional interest in the Indian credit card sector, which is driven by rising consumer spending and a shift toward digital, cashless payments.

SBI Card, a subsidiary of the State Bank of India, currently holds approximately 19 percent of the credit card market share in India, trailing behind HDFC Bank. The company also maintains a 25 percent share in the debit card segment.