Kochi, May 2 -- Federal Bank has announced that it will acquire a select credit card portfolio from Standard Chartered Bank, India, in a strategic move to strengthen its retail credit franchise and expand its footprint in key urban markets.
The proposed transaction, expected to be completed within calendar year 2026, will significantly boost Federal Bank's credit card base and deepen its presence in Tier-1 cities by adding a high-quality, seasoned customer portfolio.
The acquisition aligns with the bank's strategy to accelerate growth in its retail lending segment, particularly in the non-co-branded credit card space.
The portfolio comprises up to around 4.5 lakh credit cards, compared to Federal Bank's existing base of 8 lakh non-co-bra...