ICICI Bank launches new line of Amex credit cards

03 April 2008

Mumbai: ICICI Bank, India's second largest bank and American Express, one of the world's leading financial services companies, have announced the launch of the ''ICICI Bank Ascent American Express Card''.

The card offers customers a powerful value proposition of accelerated rewards and exclusive privileges for the sophisticated, affluent Indian consumer. 

ICICI Bank and American Express also introduced the ICICI Bank Business Ascent American Express Card, designed exclusively for entrepreneurs to benefit from the business advantage programme featuring attractive savings on business related expenses.

Previously, ICICI Bank and American Express had partnered in 2003 under an agreement that enables ICICI Bank to issue American Express branded cards that can be used on American Express' global merchant network.

''Currently, ICICI Bank has over 9.5 million customers and the increasing usage of credit cards in India makes it vital for us to meet the diverse needs of our customers,"said Sachin Khandelwal, who heads the cards group at ICICI Bank. " The tie up with American Express will provide us with the platform to extend our offerings and the enhanced rewards programme will assure our customers greater value every time they use the card.''

Kula Kulendran, senior vice president and  head of global network services for Japan, Asia-Pacific and Australia region at American Express said, ''We are delighted to have partnered with ICICI Bank to develop a very relevant and differentiated value proposition and I am confident that customers will be thrilled by this suite of products. Around the world, American Express partners with banks that share our commitment to superior customer service and providing quality products to customers. With ICICI Bank we have found the right partner to meet the needs of the Indian consumer.''