Federal Bank has received Board of Directors' approval to acquire a select portfolio of retail credit cards from Standard Chartered Bank India, marking a significant strategic expansion in the retail banking segment. The decision was formalized during a Board meeting held on April 30, 2026, as disclosed under Regulation 30 of the SEBI LODR Regulations.

Board Meeting Timeline

The Board meeting followed an extended schedule across two days. The meeting commenced at 01:20 p.m. on April 29, 2026, was subsequently adjourned, and resumed the following day at 10:00 AM on April 30, 2026. The specific matter regarding the credit card portfolio acquisition was considered and approved at 11:15 AM on April 30, 2026.

Transaction Structure

The acquisition will be executed through a deed of assignment (DOA) 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 transaction represents a strategic move to strengthen the bank's retail banking capabilities and expand its credit card business.

Regulatory Compliance and Communication

The disclosure was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement was formally communicated to both the National Stock Exchange of India Limited and BSE Limited through the bank's secretarial department under reference SEC/LODR/36/2026-27.

Next Steps and Updates

Federal Bank has committed to keeping stakeholders informed about the transaction's progress. The bank stated it will provide updates on the execution of the deed of assignment in due course, ensuring transparency throughout the acquisition process. The communication was signed by Company Secretary Samir P Rajdev and digitally authenticated on April 30, 2026, at 11:26:33 +05'30'.

Federal Bank announced its audited financial results for FY26 following a Board meeting held on April 29, 2026. The bank delivered solid performance with net profit reaching ₹4,117.32 crore, representing growth of 1.61% compared to ₹4,051.89 crore in the previous year. The Board recommended a final dividend of 60%, equivalent to ₹1.20 per equity share of face value ₹2 each, subject to shareholder approval at the ensuing Annual General Meeting.

Q4FY26 Quarterly Performance Highlights

The fourth quarter demonstrated remarkable operational strength with net profit surging to ₹1,259.10 crore, marking sequential growth of 20.93% from ₹1,041.21 crore in Q3FY26. Total income for Q4FY26 stood at ₹8,544.04 crore, while operating profit reached ₹2,276.41 crore. The bank achieved significant milestones with both CASA and NR deposits crossing the ₹1 lakh crore mark simultaneously.

*Not annualised

Balance Sheet Strength and Asset Quality

The bank's balance sheet demonstrated robust growth with total business reaching ₹5,78,503.76 crore, growing 4.54% quarter-on-quarter. Total deposits increased to ₹3,13,909.39 crore with 5.41% QoQ growth, while gross advances stood at ₹2,64,594.37 crore. CASA balances reached ₹1,03,390.30 crore with the CASA ratio improving to 32.94%, showing a 271 basis points year-on-year improvement.

Asset quality metrics remained exemplary with Gross NPA at 1.62% and Net NPA at 0.20% as of March 31, 2026, demonstrating superior risk management capabilities. The Capital Adequacy Ratio under Basel III stood strong at 17.25%.

Regulatory Filings and Board Meeting Details

The audited financial results were approved by the Board at its meeting held on April 29, 2026, which commenced at 1:20 p.m. and concluded approval of financial results at 1:50 p.m. The regulatory filing was submitted to both NSE and BSE under scrip symbol FEDERALBNK and code 500469, signed by Company Secretary Samir P Rajdev with filing reference SEC/LODR/28/2026-27.

Pursuant to Regulation 33(3)(d) of SEBI Listing Regulations, the Joint Statutory Auditors—M/s. M S K A & Associates LLP and M/s. Suri & Co—have issued an unmodified opinion on the audited standalone and consolidated financial results for FY26. Executive Director & CFO Venkatraman Venkateshwaran confirmed the auditor's declaration.

Newspaper Publication and Regulatory Compliance

Pursuant to Regulation 30 and 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the bank published its audited financial results for Q4FY26 in newspapers on April 30, 2026. The results were published in "Financial Express" (English) and "Deepika" (Malayalam), ensuring compliance with regulatory disclosure requirements. The complete financial results are also available on the bank's website at https://www.federal.bank.in/financial-result .

Strategic Developments and Fee Income Growth

The bank's diversified credit portfolio shows retail banking comprising 54% of customer assets, commercial banking at 35%, and corporate banking at 11%. Digital initiatives continue to drive growth with the Federal 24/7 current account opening platform, FedWealth investment platform, and enhanced UPI acquiring capabilities contributing to operational efficiency. Fee income for Q4FY26 reached ₹990.92 crore, growing 10.54% quarter-on-quarter, reflecting strong non-interest income performance.