Mumbai, Maharashtra, 5th of May 2026 : Federal Bank has taken a significant step to strengthen its retail banking presence by agreeing to acquire a select credit card portfolio from Standard Chartered Bank (India). The deal could bring around 450,000 credit card customers into Federal Bank’s fold, substantially expanding its card base.
The acquisition is expected to enhance Federal Bank’s footprint, particularly in Tier-1 cities, where nearly 75% of the acquired portfolio is concentrated. Currently, the bank holds around 800,000 non-co-branded cards and 1.3 million co-branded cards.
Post-acquisition, receivables in the non-co-branded segment are projected to grow by nearly 90%.
Managing Director & CEO KVS Manian described the move as a “strategic inflection point” for the bank’s retail credit franchise. Meanwhile, Consumer Banking Head Virat Sunil Diwanji assured a smooth transition experience for customers.
On the other hand, Standard Chartered Bank, through its representative Aditya Mandloi, stated that the move aligns with its strategy to deepen relationships with affluent customers by focusing on multi-product engagement.
The transaction is expected to be completed within 2026 and does not require any regulatory approvals.
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