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||19 January 2010
Citibank expects to ride credit card industry growth in Malaysia
Citibank Bhd aims to retain 20 percent of the credit card market by offering more compelling promotions and privilege reward for its customers, reported Bernama.
"The industry expects double-digit growth and we will grow in tandem with that growth this year. The promotions will help us to retain our position," Head of Consumer Markets Fabio Fontainha said at the launch of a promotion.
Some 100,000 customers are expected to join the campaign where they need to only spend 50 ringgit (1$=3.4 ringgit) receipt to participate.
They stand to win grand prizes worth up to 500,000 ringgit and guaranteed rewards points of more than 200 million points during the duration of the campaign which ends on April 30, 2010.
Citibank, which has set aside 5 million ringgit for campaign advertisements and promotion, would continue to introduce more products, services and promotions this year, which in turn, would increase the usage of its credit cards.
Meanwhile, Citibank's Business Director Cards & Consumer Lending Anand Cavale said consumers would become more aware of the bank's products and promotions via this campaign."
"So, we do expect to see an increase in the usage of our cards with those programmes."
Currently, there are over 1,000 merchant establishments, locally, and over 25,000 worldwide offering discounts and privileges to its cardholders.
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