Financial Daily from THE HINDU group of publications
Friday, Feb 13, 2004
Financial Daily from THE HINDU group of publications Friday, Feb 13, 2004 |
||
|
|
||
|
Money & Banking
-
Credit Cards & Debit Cards Federal, ICICI Bank unveil co-branded credit card Our Bureau
Kochi , Feb.12 THE Aluva-based Federal Bank today introduced co-branded credit cards with ICICI Bank. Speaking at the launch function in Kochi, Ms Chanda Kochhar, Executive Director of ICICI Bank, said: "Though this is the first co-branding venture with another bank for ICICI Bank, co-branded credit cards will be the shape of things to come in future. To carry the process forward, we will be looking at and talking to other banks with a strong presence in specific regions." ICICI Bank with its two million card customers is the single largest player in the credit card market in the country, she said. The bank is currently issuing 1,30,000 credit cards on a month-to-month basis. With a whole spectrum of retail products on offer, the bank has already captured 30 per cent of the retail loan segment in the country, Ms Kochhar said. "Through our pioneering efforts we have been able to instil an ATM habit across the population of Kerala, especially among the rural people. With this co-branding exercise, we propose to extend the habit into credit card use among the State's population as well," Mr K.P. Padmakumar, Chairman of Federal Bank said. With the keen demand and use of Federal Bank ATMs, the bank proposed to introduce a second ATM into some rural pockets of the State. The ICICI Bank-Federal Bank co-branded credit cards will be available in two variants, based on the ICICI Bank International Sterling Silver and Solid Gold Cards. The co-branded cards will be affiliated to VISA.
More Stories on : Credit Cards & Debit Cards
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|