Citibank, the largest issuer of credit cards among foreign banks in India, is further expanding its card portfolio with the launch of two lifestyle products, Citi Prestige and Citi Ultima Infinite.
“These new offerings will allow Citi to be even more competitive in India offering greater rewards and associated benefits to card members,” said Jonathan Larsen, global head of retail banking and Asia-Pacific head of consumer banking.
India is the ninth country where customers of Citi’s worldwide network can obtain Citi Prestige, first launched in the US last year. The card is also available in Mexico, Columbia, Singapore, Hong Kong, Japan, Malaysia and Korea.
Citi Ultima Infinite is currently offered in Hong Kong and Singapore, besides India, to ultra-wealthy clients, to give them instant access to customised, dedicated services, along with their own lifestyle manager.
Citi added that Ultima Infinite is likely to be launched in other markets across Asia, which according to market research, has the fastest-growing number of billionaires. Citi estimates that by 2020 three quarters of incremental consumer spending will come from emerging markets and consumer spending in Asia is expected to overtake North America.
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