fintech / news / / The Economic Times
Federal Bank is acquiring Standard Chartered's credit card portfolio.
Federal Bank will acquire Standard Chartered's credit card portfolio, mainly concentrated in India's top eight cities.
KEY POINTS
- 95% of incoming Standard Chartered cardholders have credit scores above 700, ensuring low-risk additions.
- 25-30% of the acquired customers are aged 25-35, supporting future cross-selling opportunities.
- Customer attrition and Federal Bank's limited non-southern presence are significant post-acquisition challenges.
- Over 60% of these customers have maintained their Standard Chartered relationship for more than three years.
COMPANIES
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