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StanChart to offload 4,50,000 credit cards to Federal Bank as it turns focus to wealth business
- IBJ Bureau
- May 01, 2026
Standard Chartered Bank (StanChart) will sell a portfolio of 4,50,000 Indian credit cards to Federal Bank, the London-headquartered lender has said.
The sale is a part of StanChart shifting its focus to wealth business in Asia’s third-largest economy.
StanChart, which earns most of its revenue in Asia, Africa and the Middle East, had about 6,40,000 credit cards in India as of March, according to the latest regulatory data.
The lender is selling a part of its Indian portfolio, where customers only hold credit cards and do not have a wider banking relationship.
The bank had been reviewing offers from Federal Bank and Kotak Mahindra Bank.
The deal with Kerala-based Federal Bank is expected to close by the end of 2026.
The deal value will depend on consent from customers and the balances at the time of transfer, Federal Bank has said in a statement, adding that the portfolio is being valued at around 1.5 to 1.6 times of the implied equity.
“This decision is in line with our strategic shift towards building deeper, multi-product relationships with our clients,” Aditya Mandloi, Standard Chartered’s head of wealth and retail banking in India and South Asia, has said.
The British bank has been selling non-core businesses in India.
Last year, it had sold its personal loan business in India, valued at $488 million at the time, to Kotak Mahindra Bank.
“The acquisition represents a compelling and strategic addition to our retail credit franchise, Federal Bank Chief Executive K V S Manian has said.
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