Citibank Singapore retains pole position in credit card sales
CITIBANK Singapore on Monday said its credit card sales have grown at least 20 per cent faster than the industry over the last five years.
The bank still holds the largest consumer credit card portfolio in Singapore. It did not say if its market share of about 30 per cent has eroded over the years. But at a press briefing, John Denhof, head of cards and personal loans at Citibank Singapore, acknowledged that competition here has intensified.
Fresh data provided by the bank showed that last year, Citibank's credit card sales grew slightly below 10 per cent, which is stronger than the growth of about 7 per cent for the industry.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Japanese yen slides back towards 34-year low after brief spike
China’s Bank of Communications Q1 profit rises 1.44%
HSBC’s private bank shuts independent asset management business in HK, Singapore
Nomura Q4 net profit jumps almost eight-fold on retail income surge
Rescue pup to meme star: the real-life ‘Dogecoin’ dog
Money laundering accused Zhang Ruijin slapped with 5 more charges days before scheduled guilty plea