Federal Bank to acquire 4.5 lakh Standard Chartered card portfolio

Mumbai: Federal Bank will acquire a select India credit card portfolio from Standard Chartered Bank of about 450,000 cards, the bank said in a statement. Both banks will sign an agreement for the deal, the bank said in a statement without giving a timeline for the deal. The portfolio acquisition will enhance Federal Bank's existing base of 800,000 non-co-branded cards…

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