Wednesday, November 23, 2011

Maybank eyes 20% rise in billings valued at RM200m

PETALING JAYA (Nov 23): MALAYAN BANKING BHD [] (Maybank) eyes a 20% increase in billings valued at about RM200 million through its "Maybankard 2 Cards Shop for Free" usage programme, says its Executive Vice President and Head of Cards, Wealth and Payments, B Ravintharan.

"With this usage programme, they spend using their Maybankard 2 American Express (Amex) cards, and that would lead to the increase in usage," he said.

The campaign began in August and ended on Sept 11.

Ravintharan said the programme has increased their credit card holders to about 9% to 10% and billings by about 19% year-on-year.

He also expects an increase in billings of below 20% next year, saying the economic condition "is going to come out slightly different".

"However, people cannot run away from essential spendings," he added.

Ravintharan noted that the bank's billing totalled about RM1 billion a month.

Maybank now has 1.5 million credit card holders, four million debit card holders and about three million conventional bank card holders.

It has also issued 1,000 Maybankard Manchester United credit cards, which were launched on Nov 11. - Bernama


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