Federal Bank snaps up StaC’s credit card biz

MUMBAI: Federal Bank has entered into an agreement with Standard Chartered Bank India to acquire the British lender's select portfolio of credit card business for an undisclosed sum, as the Kochi-based bank seeks to expand its high-premium unsecured business. The StanC portfolio comprises up to 4.5 lakh credit cards, as against Federal Bank's existing customer base of 8 lakh non-co-branded…

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