fintech / news / / CNBC TV18
Federal Bank approves acquisition of select Standard Chartered Bank India retail credit cards.
Federal Bank will acquire selected retail credit card portfolios from Standard Chartered Bank India.
KEY POINTS
- Details of the portfolio acquisition will be disclosed after the deed of assignment is executed.
- Federal Bank's Q4 FY26 profit included a one-time gain from an Income Tax refund.
- The entire one-time gain was allocated as a floating provision for RBI's ECL framework effective April 2027.
- Federal Bank is prioritizing growth in retail and higher-yield credit segments over home loans.
COMPANIES
Summarized by Newsio from CNBC TV18. How we summarize →