ABN Amro in JV with MasterCard

By Our Special Correspondent

MUMBAI, AUG. 23. ABN Amro Bank NV and MasterCard International have entered into an alliance to launch ABN Amro MasterCard credit cards in India. According to this alliance, MasterCard International and ABN Amro Bank will issue a range of MasterCard credit card programmes including Gold and Standard credit cards and MasterCard electronic cards in India.

Addressing a press conference announcing the tie-up here today, Mr. Romesh Sobti, Executive Vice President and Country representative India, ABN Amro Bank, said the board of the bank had reaffirmed that ABN Amro was committed to increase its presence in India through organic growth and selective acquisitions. MasterCard International will support ABN Amro Bank's credit card initiative in various areas of payment services including operations, marketing, consulting, risk management and sponsoring.

ABN Amro plans to further strengthen its retail and asset gathering franchises as part of the core strategic foundations of the group.

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Section  : Business
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