SBC eyes 10-15% growth in credit card base

MANILA, Philippines - Security Bank Corp. (SBC) is eyeing a 10- to 15-percent increase in its credit cardholder base this year, a top bank official said.

On the sidelines of the launch of its newest and exclusive VIP card program World MasterCard, SBC Cards Corp. president and head of business Dave Sarmiento said they also expect their credit card usage to grow at the same rate as the cardholder base.

He said they are aiming to corner a bigger portion of the credit card market through their aggressive marketing campaigns in the next few months.

Aside from the launch of a credit card for high-end clients, he said the bank is currently negotiating for a possible tie-up with a gas company to launch its own gas card.

“Anybody who is cardable. We will tap them, particularly the middle class market and also the corporate market,” he said.

The credit card business currently represents about a third of SBC’s consumer loan portfolio, with the other portions equally spread out to housing and car loans.

During the launch, SBC executive vice president and retail banking segment head Cristina Tingson said “the partnership with MasterCard has given us the opportunity to invite our most valued customers to this exclusive event, so that they can be the first to acquire the World MasterCard.”

World MasterCard cardholders will take pleasure in the exclusive and preferential access to travel amenities, namely free access to any of the Miascor Lounges in the Philippines, the MasterCard Moments Program and World MasterCard concierge service.

Cardholders will also have peace of mind when traveling abroad through automatic coverage on travel accident and travel inconvenience benefits.

The World MasterCard will also allow cardholders to enjoy free personal concierge service at St. Luke’s Medical Center, Security Bank MasterCard e-Secure and Good Life Rewards program.