CIMB Bank Introduces First Visa Infinite Card for Singapore Customers
Friday - Jan. 18 (Press Release) - Singapore: In one of its latest moves to capture the growing segment of the increasingly affluent in Singapore, CIMB Bank Singapore (“CIMB Bank”) sealed its collaboration with Visa and officially launched the prestigious Visa Infinite credit card yesterday.
Mr Renzo Christopher Viegas, Deputy Chief Executive Officer and Head of Consumer Banking, CIMB Group, said, “We are delighted to have the successful partnership with Visa in Malaysia and Indonesia now extended to Singapore. The addition of CIMB Singapore’s maiden Visa credit card will further substantiate our ASEAN proposition, thereby enabling our credit card customers to greater benefit from the more extensive array of cross-border privileges regionally.”
Ms Ooi Huey Tyng, Visa Country Manager for Singapore and Brunei, said, “Singapore is home to many of Asia Pacific’s most affluent consumers. In line with this trend, we have experienced 50% payment volume growth for Visa Infinite cards in Singapore last year. We are pleased to extend our long standing partnership with CIMB Bank and to offer cardholders access to a suite of exclusive travel, shopping and lifestyle privileges with Visa Infinite cards.”
With CIMB Bank’s introduction of the Visa Infinite and together with its existing stable of credit cards, the complementary benefits and privileges have been assembled to help CIMB Bank target an increasingly diverse group of credit card customers who desire benefits and privileges in different realms.
Mr Mak Lye Mun, Chief Executive Officer, CIMB Bank, added, “Since the introduction of CIMB Credit Cards in 2009, we have grown our customer base twelve-fold over the last three years and garnered almost 10% market share last year. The launch of CIMB Visa Infinite comes timely and we are confident this will put us in good stead to capture fresh market share in the growing affluent pie, and become one of Singapore’s top 6 credit card issuers in 3 to 5 years’ time.”
Ranked in the top echelon of all Visa cards in Singapore, the new CIMB Visa Infinite offers its cardmembers a world of infinite privileges. From getting back real value through cash rebates of up to 2% on local and overseas spend, to enjoying lifestyle privileges ranging from complimentary access to the luxurious Damai Spa & Fitness Facilities and over 600 airport VIP lounges around the world, as well as discounts, upgrades and privileges at over 500 dining, shopping and lifestyle establishments in Singapore, Malaysia and Indonesia.
Furthermore, leveraging on a relatively new concept that the Singapore credit card customers are beginning to embrace, the dedicated CIMB Credits Cards Personal Concierge has been specially set up to tend to CIMB Visa Infinite cardmembers’ enquiries and requests 24 hours a day, 7 days a week. From making private jet arrangement to fly to one’s favourite destination, to getting the latest recommendations on which Michelin star restaurant to dine at, or even arranging for a nice surprise on a yacht for a loved one; this concierge service is another plus for those cash-rich individuals who are constantly strapped for time.
All these privileges and more are offered to CIMB Visa Infinite cardmembers along with a lifetime of complimentary membership - a first in the league of Singapore’s Visa Infinite credit cards that comes with zero annual fee for the principal cardmember.
“While the affluent possess the spending power, they tend to be very “money-wise” as well. Our value proposition to them is simple: exclusivity and the best things in life need not necessarily come at an excessive price. Tailored to provide the discerning affluent individuals with the distinct advantage of great value; we believe that CIMB Visa Infinite is the card that enables them to truly have the very best of both worlds”, added Mr Mak.
The launch of the CIMB Visa Infinite was celebrated in an evening of fine dining and performances at the Capella Singapore. Attended by an exclusive group of some 150 clients and partners of CIMB Bank, these guests were among the first to be invited to sign up for the CIMB Visa Infinite.
To learn more about the CIMB Visa Infinite or to apply, please visit www.cimbbank.com.sg or call the CIMB Credits Cards Personal Concierge (65) 6322 2188.
About CIMB Bank Singapore
CIMB Bank operates in Singapore on a full banking license. It has two branches at Singapore Land Tower and Orchard Road. With its strategic location in the financial centre of Southeast Asia, CIMB Bank Singapore offers a full suite of banking products to high net worth individuals, businesses and corporate clients.
As part of CIMB Group’s regional universal banking network, CIMB Bank Singapore is able to offer its customers a wide range of financial solutions in its key Southeast Asian markets of Malaysia, Indonesia and Thailand.
About CIMB Group
CIMB Group is Malaysia’s second largest financial services provider and one of ASEAN’s leading universal banking groups. It offers consumer banking, investment banking, Islamic banking, asset management and insurance products and services. Headquartered in Kuala Lumpur, the Group is now present in nine out of 10 ASEAN nations (Malaysia, Indonesia, Singapore, Thailand, the Philippines, Cambodia, Brunei, Vietnam and Myanmar). Beyond ASEAN, the Group has market presence in China, Hong Kong, Bahrain, India, Sri Lanka, Australia, Taiwan, Korea, the US and UK.
CIMB Group has the largest retail branch network in ASEAN of more than 1,100 branches as at 30 September 2012. CIMB Group’s investment banking arm is also emerging as the largest Asia Pacific-based investment bank following its recently announced purchase of RBS’ Asia Pacific investment banking and cash equities operations.
CIMB Group operates its business through three main brand entities, CIMB Bank, CIMB Investment Bank and CIMB Islamic. CIMB Group is also the 97.9% shareholder of Bank CIMB Niaga in Indonesia, and 93.7% shareholder of CIMB Thai in Thailand.
CIMB Group is listed on Bursa Malaysia via CIMB Group Holdings Berhad. It had a market capitalisation of approximately RM55.75 billion as at 30 September 2012. The Group has over 43,000 employees located in 18 countries.
If you have further queries or require more information, please contact:
Josandi Thor
Head of Brand, Marketing and Communications
Group Marketing and Communications
CIMB Group
DID: +65 6302 3885
Mobile: +65 9022 0129
Email: josandi.thor@cimb.com
