Federal Bank has executed a deed of assignment with Standard Chartered Bank, India on May 4, 2026, to acquire a select portfolio of retail credit cards, following the Board of Directors' approval granted on April 30, 2026. The transaction marks a significant strategic expansion in the retail banking segment and was disclosed under Regulation 30 of the SEBI LODR Regulations.

Transaction Execution

The deed of assignment was executed on May 4, 2026, between Federal Bank Ltd and Standard Chartered Bank, India. Under this arrangement, Federal Bank will acquire the select retail credit card portfolio from SCB India. The DOA provides for the assignment of certain receivables arising from existing credit card relationships from SCB India to the Bank.

Migration Plan and Cardholder Transition

The agreement specifies that identified credit card relationships between SCB India and relevant cardholders will be terminated in accordance with a mutually agreed migration plan. Federal Bank will issue replacement credit cards to the identified cardholders in lieu of their credit card relationships with SCB India, following the agreed migration framework.

Board Approval Timeline

The Board meeting was held across two days, commencing at 01:20 p.m. on April 29, 2026, and resuming at 10:00 AM on April 30, 2026. The specific matter regarding the credit card portfolio acquisition was approved at 11:15 AM on April 30, 2026.

Regulatory and Transaction Details

The disclosure confirms that the transaction does not fall within the ambit of a related party transaction. Federal Bank does not have any shareholding in SCB India, and neither party is related to each other's promoter, promoter group, or group companies. The transaction does not involve issuance of shares. The communication was signed by Company Secretary Samir Pravinchandra Rajdev and digitally authenticated on May 4, 2026, at 12:51:04 +05'30.

Federal Bank Limited conducted a virtual investor meeting with the International Finance Corporation (IFC) on April 30, 2026, in compliance with regulatory disclosure requirements.

Meeting Details

The bank held a one-on-one virtual meeting with IFC as part of its ongoing investor engagement activities. The meeting details are outlined below:

Regulatory Compliance

Federal Bank Limited disclosed this meeting in accordance with Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was made through a formal communication to both the National Stock Exchange of India Limited and BSE Limited.

The bank's Company Secretary, Samir P Rajdev, signed the disclosure document digitally on April 30, 2026, at 12:53:46 +05'30'. The communication specifically noted that no presentations were made during the virtual meeting session.

Investor Engagement

This meeting represents part of Federal Bank's regular investor outreach activities, maintaining transparency with stakeholders and institutional investors. The virtual format continues to be utilized for efficient engagement with international financial institutions like IFC.