ABN Amro eyes NRIs with new credit card

Dubai: Dutch bank ABN Amro said yesterday it is launching a new credit card in the UAE to target potential customers among the 1.4-million-strong Indian community, the biggest segment of expatriate population.

ABN Amro officials hope that by targeting non-resident Indians (NRIs) the bank will be able to significantly boost its current 15 per cent share of the UAE credit card market.

There are an estimated 2.5 million credit cards in use in the country, while the number of customers is about 1.7 million.

"The introduction of this product is a result of extensive in-house research on the changing lifestyle and continued success of NRIs in the UAE," said Jim Brown, the bank's head of consumer client segment in Asia.

Although the new card is being promoted among Indians, anyone living in the UAE can become a customer, said Burhan Khan, head of consumer banking.

"This is part of our overall plan to make our market position stronger," he said, adding that the bank has a local customer base of 170,000.