On April 30, 2026, Federal Bank announced its board's approval to acquire a select portfolio of retail credit cards from Standard Chartered Bank (India) as part of its strategy to strengthen its credit card segment. This acquisition aligns with Standard Chartered's decision to move away from standalone credit cards, focusing instead on multi-product banking relationships. As of January 2026, Standard Chartered had approximately 700,000 credit cards in India, with 550,000 being standalone cards. Federal Bank, which reported its highest quarterly profit of ₹1,259 crore for Q4FY26, is actively scaling its credit card offerings, having issued 2.24 million credit cards. However, the bank has decided to withdraw from negotiations to acquire Deutsche Bank's retail and wealth business, estimated at ₹4,500 crore. This decision leaves Kotak Mahindra Bank as the likely sole contender for the deal. Amidst these developments, Federal Bank is also enhancing its wealth management services, recently launching the 'FedNext' platform to expand its investment offerings.