ICICI, Federal Bank launch co-branded card, to share ATMs
Friday, 13 February 2004, 20:30 IST
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KOCHI : ICICI Bank and the Alwaye-based Federal Bank today announced the launch of a co-branded credit card. This is ICICI Bank’s first co-branded card with another bank.The two banks have also signed an agreement for sharing ATM networks. ICICI Bank has 1,760 ATMs at present, while Federal Bank has a network of about 190 ATMs. The combined network will provide customers access to nearly 2,000 ATMs across the country. ICICI Bank has a credit-card base of nearly 2 million, Ms Chanda Kochhar, Executive Director of the bank said. The strategy of the bank is to find strong regional players and launch co-branded cards. The bank is on the lookout for more such players. The banks have fixed a target of 100,000 holders for the newly launched ICICI Bank-Federal Bank card. The card will be available in two variants based on the basic ICICI Bank International Sterling Silver and Solid Gold Cards. “We now have in our portfolio the entire range of financial products and services needed by an average person and this marks our emergence as a complete financial supermarket,” Mr Padmakumar, Chairman, Federal Bank said. ICICI Bank has 21 branches in Kerala and has a network of 86 ATMs. Federal Bank has close to 150 ATMs within the state.
Source: IANS
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