fintech / news / / The Economic Times
Federal Bank is set to acquire a significant credit card portfolio of approximately 4.5 lakh cards from Standard Chartered Bank, India.
Federal Bank will acquire about 4.5 lakh credit cards from Standard Chartered Bank, India.
KEY POINTS
- This transaction increases Federal Bank's non-co-branded credit cards receivables by around 90%.
- Seventy-five percent of the acquired portfolio is concentrated in India's top eight cities.
- The deal values the portfolio at 1.5 to 1.6 times implied equity and closes by end-2026.
- The acquisition does not require regulatory approvals, expediting Federal Bank's Tier-1 city expansion.
COMPANIES
Summarized by Newsio from The Economic Times. How we summarize →