fintech / news / / Outlook Business
Private sector lender Federal Bank has agreed to acquire a select credit card portfolio from Standard Chartered Bank in India.
Federal Bank will acquire up to 4.5 lakh Standard Chartered credit cards in India.
KEY POINTS
- This acquisition is expected to nearly double Federal Bank's non-co-branded card receivables.
- The credit card portfolio is valued at 1.5-1.6 times implied equity, pending final balances.
- No regulatory approvals are required, and the deal is targeted for completion by 2026.
COMPANIES
Summarized by Newsio from Outlook Business. How we summarize →