The Hindu : ICICI Bank to focus on co-branding of cards

Online edition of India's National Newspaper
Wednesday, Oct 01, 2003

Business

Business

ICICI Bank to focus on co-branding of cards

MUMBAI SEPT. 30. ICICI Bank expects its co-branded credit cards to contribute 50 per cent of business in this segment by the end of the current year and has identified several sectors for introducing such cards.

"Co-branded credit cards will be the cornerstone of our strategy and we expect it to bring 50 per cent of our business as such cards provide more value and benefits to customers, bank and the partner," ICICI Bank Executive Director, Chanda Kochhar, told newspersons after introducing a co-branded credit card with Big Bazaar here today. The bank has identified various segments such as travel, telecom, airline, health and retailing for tie-ups, she said.

The country's largest private sector bank has already introduced co-branded credit cards with HPCL, BPL Mobile and Trinetra, which has a chain of grocery shops in Andhra Pradesh, she added. Ms. Kochhar said the credit card base of ICICI Bank had touched 16 lakh in three and half years and was growing at one lakh per month. — PTI

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