CITIC to expand credit card business
By Zhang Fengming |
July 30, 2011, Saturday
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Print Edition
Print Edition
CHINA Citic Bank plans to increase credit card circulation by about 20 percent this year.
The bank plans to issue 2 million to 2.5 million new credit cards this year, Chen Jing, head of the credit card department of the bank, told Shanghai Daily yesterday.
"We are targeting three groups of customers - the emerging wealthy, rich people and high net-worth individuals," Chen said.
The bank has teamed up with China Eastern Airlines to issue co-branded credit cards to target high net-worth individuals as they tend to be frequent fliers.
CITIC had about 10.5 million credit cards in circulation at the end of 2010, he said.
China had issued more than 242 million credit cards at the end of March, an annual rise of 25.7 percent.
There were also 2.6 billion bank cards in circulation at the end of March.
The bank plans to issue 2 million to 2.5 million new credit cards this year, Chen Jing, head of the credit card department of the bank, told Shanghai Daily yesterday.
"We are targeting three groups of customers - the emerging wealthy, rich people and high net-worth individuals," Chen said.
The bank has teamed up with China Eastern Airlines to issue co-branded credit cards to target high net-worth individuals as they tend to be frequent fliers.
CITIC had about 10.5 million credit cards in circulation at the end of 2010, he said.
China had issued more than 242 million credit cards at the end of March, an annual rise of 25.7 percent.
There were also 2.6 billion bank cards in circulation at the end of March.
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