Citibank India is fine-tuning its business
focus on credit cards and personal loans again. Credit cards and
personal loans make half of the bank’s retail banking
portfolio.
“Going forward, we expect a growth of
20-25% in credit cards in new client acquisition” said Anand Selva,
Citibank India’s country business manager in local media.
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He added that they had had 2.2m cards in
force as of December 2011 and that it was targeting a 5 percentage
point rise in market share in the emerging affluent class to 15% by
1016.
The bank launched a product portfolio
called Citibanking to meet the growth target in market share in the
emerging affluent class.
Under Citibanking, cash withdrawals will be
free of charges at any ATM anywhere in the world and also other
banking services such as draft issuance or funds transfer, Citibank
said.
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