India's SBI Cards and Payment Services reported a rise in ​second-quarterprofit on Friday, helped by an ‌improvement in its asset qualityand a ​drop in provisions. The ⁠credit card firm, a unit of State Bank of India, said its profit after ‌tax rose to ₹778 crore($81.9 million) for the quarter ‌ended September 30, from ₹445crore ⁠last year. The company has ⁠steadily tightened credit underwritingover the last few quarters to tackle asset quality stress andhigher delinquencies ​in credit cards. As a result, ...

SBI Cards and Payment Services reported a rise in second-quarter profit on Friday, helped by an improvement in asset quality and a drop in provisions. The credit card firm, a unit of State Bank of India, said its profit after tax rose to Rs 778 crore ($81.9 million) for the quarter ended September 30, from Rs 445 crore a year earlier. The company has steadily tightened credit underwriting over the last few quarters to tackle asset quality stress and higher delinquencies in credit cards. As a result, SBI Car ...