StanChart Sells Some Card Business to India Lender in Pullback

Standard Chartered Bank Plc has agreed to sell part of its Indian credit card business to Blackstone-backed Federal Bank Ltd., joining a slew of US and European lenders exiting the...

By Siddhi Nayak · Bloomberg

Standard Chartered Bank Plc has agreed to sell part of its Indian credit card business to Blackstone-backed Federal Bank Ltd., joining a slew of US and European lenders exiting the crowded retail segment dominated by local players.