Standard Chartered Reviews Offers From Kotak for India Credit Card…

Sarah J · 2026-03-18T16:08:55.000Z

Standard Chartered is evaluating potential offers from Kotak Mahindra Bank and other bidders to sell a portion of its India credit card customer base, as part of a broader strategy to streamline its retail operations. The portfolio under consideration includes up to 600,000 credit card-only customers, who do not hold other banking relationships with the lender. These customers are considered non-core to Standard Chartered’s evolving business focus in India. This move aligns with the bank’s strategy to shift toward wealth management and high-value client segments, while gradually exiting lower-margin retail businesses. The bank is expected to retain around 70,000 affluent customers, focusing on premium offerings and deeper financial relationships. For Kotak Mahindra Bank, the potential acquisition presents an opportunity to expand its credit card base cost-effectively in a highly competitive market. The deal would help the bank scale its retail portfolio without incurring high customer acquisition costs. The development reflects a broader trend of global banks recalibrating their India strategies, with several international players reducing exposure to mass retail segments while doubling down on wealth, corporate, and cross-border banking services.

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Standard Chartered Reviews Offers From Kotak for India Credit Card… | SEINET