# Federal Bank board approves deed of assignment with Standard Chartered India to acquire select retail credit card portfolio as part of its growth strategy in higher-yield segments.

*fintech · news · 2026-04-30 · Business Standard*

## Key points

- Federal Bank's board approved acquiring select retail credit card portfolios from Standard Chartered India.
- Federal Bank will not disclose transaction details until the deed of assignment is executed.
- Standard Chartered India is focusing on customers with multi-product relationships, moving away from standalone credit cards.
- Standard Chartered's personal loan business was previously sold to Kotak Mahindra Bank.
- Federal Bank currently has 2.24 million credit cards versus Standard Chartered's 638,169 cards.

**Companies:** Federal Bank, Standard Chartered Bank
**Countries:** India, United Kingdom

[Read the full story on Business Standard](https://www.business-standard.com/companies/news/federal-bank-to-buy-stanchart-india-s-select-retail-credit-card-portfolio-126043000478_1.html)

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