Federal Bank, a private sector lender based in Mumbai, has received board approval to acquire a select portfolio of retail credit cards from UK-based Standard Chartered. The deal, which values the portfolio at 1.5-1.6 times implied equity, is expected to deepen Federal Bank's presence in tier-1 cities and is projected to be completed by 2026 without the need for regulatory approvals. Federal Bank will acquire around 450,000 credit cards, adding to its existing base of 800,000 non-co-branded cards and 1.3 million co-branded cards. Notably, 75% of the acquired card base is concentrated in India's top eight cities, aligning with Federal Bank's growth strategy. The bank's credit card portfolio stood at ₹4,368 crore at the end of March 2026, reflecting a 23% year-on-year growth. Standard Chartered, focusing on wealth and affluent segments in India, had previously sold its personal loan book to Kotak Mahindra Bank for ₹3,330 crore in January 2025.