HSBC to Meet 1 million Credit Card Target in China

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00001130-hsbc-to-meet-1-million-credit-card-target/

HSBC Holdings plc, Europe’s largest bank by market value, said it expects to issue 1 million dual-currency credit cards by July with partner Bank of Communications Ltd, outpacing rival Citigroup Inc in the world’s fastest-growing consumer market.

“We are on track to meet our target,” Ron Logan, head of the credit card venture, said in a telephone interview. “The number of cards issued has been growing significantly.”

HSBC, Citigroup and American Express Co are banking on dual-currency cards to build brand awareness and customer bases in an economy with $1.65 trillion household savings. China’s Government wants 30 per cent of retail sales to be made through bank and debit cards within three years.

For this complete story, please visit HSBC to Meet 1 million Credit Card Target in China.

HSBC to Meet 1 million Credit Card Target in China

Unknown Author

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