Federal Bank has cleared a proposal to acquire a portion of the retail credit card portfolio of Standard Chartered Bank in India. The decision was taken at a board meeting on 30 April 2026, as per an exchange filing.
The transfer will be carried out through a deed of assignment. The lender said details will be shared after the agreement is executed. The value of the deal has not been disclosed.
Standard Chartered’s credit card base in India stood at around 700,000 as of January 2026. This included about 550,000 standalone cards and roughly 150,000 cards linked to other banking relationships.
Market reports had indicated that standalone card customers could form a significant part of the proposed transfer. The bank is expected to retain clients with broader product linkages.
Standard Chartered has been narrowing its focus in India’s retail segment. The bank has indicated it will not continue to push standalone credit card products.
Instead, it is concentrating on customers with multiple banking relationships, including wealth and international banking services. It had earlier sold its personal loan portfolio in India to Kotak Mahindra Bank.
Federal Bank reported a credit card base of over 2.24 million in FY26. The bank has identified credit cards as a higher-yield segment within its retail portfolio. It has also indicated a limited focus on segments such as home loans, where competition remains high.
In the March quarter of FY26, Federal Bank reported a net profit of ₹1,259 crore, up over 22% from the previous year. Net interest income rose to ₹3,173 crore.
Advances grew by about 12% during the period. The gross non-performing asset ratio stood at 1.60%, showing a stable asset quality.
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As of April 30, 2026, 2:08 pm, Federal Bank Ltd share price was trading at ₹285.90, up 0.40% from the previous closing price.
The transaction is indicative of a shift in retail portfolios between lenders, with domestic banks expanding in credit cards and foreign banks adjusting their presence in India.
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Published on: Apr 30, 2026, 3:43 PM IST
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