IOB and AmEx to jointly offer co branded credit cards
By Ankit Sharma
Mar 8, 2011
Print    Email    RSS   

Public sector lender, Indian Overseas Bank has tied up with credit card major American Express to offer co branded credit cards to customers.

Speaking about the tie up and the business model, Mr M. Narendra, Chairman and Managing Director of the bank said that customers who have an average account balance of Rs 5 lakh in metropolitan cities and Rs 1 lakh in urban centres will be set as target audience.

The step has been taken by the bank to give its credit card business a boost up. The bank had launched its credit card in the year 2006 but out of its total customer base of 1.5 lakh, only 37000 had credit cards.

According to Mr Shailesh Baidwan, Country Manager and Head - Consumer Cards Business, American Express Banking Corp, the deal would help the company access a larger customer segment.


(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

5 steps to avoid credit card debt and...
The ABN AMRO One Card
CIBIL and its role in credit risk management
Disputing errors in a credit report
Privileged banking: make the customer feel...

Good Morning, i forgot my FCMB Account Number and...
Radhey@09646870399 @Escoℛts In#Chandigarh...
Radhey@09646870399 @Escoℛt In#Chandigarh...

91st Founders day of the Karnataka Bank Feb 18, 2015
Banks on strike from 25th February Feb 16, 2015
SBT bank postponed the Open House meet Feb 13, 2015
Yes bank planning to line up for credit card portfolio Feb 12, 2015
Pocket banking – new app by ICICI bank Feb 11, 2015
News Archive