Federal Bank Acquires Select Credit Card Portfolio from Standard Chartered Bank India

Mumbai: Federal Bank has announced the execution of a deed of assignment with Standard Chartered Bank India to acquire a select portfolio of retail credit card receivables. The disclosure was made to the stock exchanges under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations.

The agreement, signed on May 4, 2026, enables Federal Bank to take over certain existing credit card relationships from Standard Chartered Bank India as part of a structured migration plan. The move is aimed at strengthening Federal Bank’s retail lending and credit card business.

Under the arrangement, the identified credit card relationships between Standard Chartered Bank India and the concerned cardholders will be gradually terminated. Federal Bank will issue replacement credit cards to these customers in accordance with a mutually agreed migration plan.

The bank clarified that it holds no shareholding in Standard Chartered Bank India and that the transaction does not qualify as a related party transaction. The agreement also does not involve the issuance of any shares or changes in capital structure.

This acquisition marks a strategic step for Federal Bank to expand its presence in the credit card segment and enhance its retail banking portfolio through the onboarding of an established customer base.