Federal Bank is set to enhance its customer base through the acquisition of the credit card portfolio from Standard Chartered Bank (SCB). With 95% of incoming customers boasting credit scores of 700 or higher, this acquisition presents a low-risk opportunity for the bank. The new portfolio includes a younger demographic, with 25-30% of customers aged 25-35 and 35-40% in the 35-45 age bracket, allowing Federal Bank to build long-term relationships. However, customer retention may prove challenging, as evidenced by the Axis Bank-Citi deal, where attrition occurred. Federal Bank plans to cross-sell additional services to the 4.5 lakh cardholders, aiming to convert them into multi-product customers. The deal, announced on April 30, is expected to finalize within five to six months. Federal Bank has reported a 22% increase in net profit for the March quarter, reaching ₹1,259 crore (approximately $152 million USD), indicating strong financial performance amidst the acquisition.