In order to purchase a specific portfolio of retail credit card receivables, Federal Bank has stated that it has executed an assignment deed with Standard Chartered Bank India. The SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, namely Regulation 30, mandated the disclosure to the stock exchanges.
As part of a planned migration, Federal Bank will assume responsibility for specific credit card relationships that were formerly held by Standard Chartered Bank India, according to an agreement signed on May 4, 2026. Federal Bank’s retail lending and credit card businesses will be bolstered by this move.
Standard Chartered Bank India and the affected customers shall progressively end their credit card agreements as per the agreement. As part of a prearranged migration strategy, Federal Bank will provide these clients new credit cards.
This is not a related party transaction, as the bank has made it clear that it does not own any shares in Standard Chartered Bank India. Neither the capital structure nor the distribution of shares are altered by this agreement.
By acquiring this company, Federal Bank is taking a calculated move to strengthen its retail banking portfolio and increase its footprint in the credit card industry.
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