Kuala Lumpur Citibank Berhad today launched the new Citi Prestige Card, Citi's first global credit card that benefits from the bank's unique global footprint and relationships to deliver a world of experiences to cardmembers – at home and wherever they travel.
Citi Prestige Card offers unparalleled benefits, including a dedicated Citi Prestige Global Concierge, available 24/7 to fulfil all lifestyle needs of affluent consumers with local and global expertise; access to unique experiences and global events; a complimentary night stay at 800 hotels globally and unlimited access to more than 600 airport lounges worldwide; all benefits are tailored to meet the evolving spending patterns of the affluent segment.
"In this age of globalization, with the increased frequency of travel and easy access to real-time media, the needs of affluent customers have converged to be more consistent worldwide. Designed together with a global team and adapted for the Malaysian market, the Citi Prestige Card provides consistent features, benefits, recognition and coverage across the globe for the affluent Malaysian," explains Anand Cavale, Managing Director, Cards & Consumer Lending, Citibank Berhad.
According to Datamonitor Asia Pacific Wealth Model 2011 report, the size of the affluent segment in Malaysia is expected to grow at a pace of 7 percent, reaching 500,000 in 2015. With the launch of Citi Prestige Card, Citibank aims to achieve 30 percent market share in this segment over the next three years.
Meanwhile, Sanjeev Nanavati, Chief Executive Officer, Citibank Berhad, added: "Citi's strengths are our globality and diversity. With a history that spans over 200 years, and presence in over 1,000 cities in 160 countries, Citi has been providing more services in more markets for more clients than any other financial institution globally. Against this backdrop, the globally-minded Malaysian customer can take advantage of Citi's international reach with this new unmatched offering."
Malaysia is one of five pilot countries selected to launch the Citi Prestige Card due to its attractive market size and sustained economic growth despite the general global economic slowdown.
Citi Prestige Card key benefits include:
The Citi Prestige Card is also the first credit card to be issued under the MasterCard World Elite platform in the Asia Pacific region.
"MasterCard is proud to partner with Citibank to introduce the MasterCard World Elite platform to the Asia Pacific region. MasterCard World Elite is an innovative, experience-based service platform for affluent consumers that delivers a mix of benefits and rewards, global acceptance as well as unmatched world travel and lifestyle expertise unlike any other credit card geared towards this sophisticated and demanding market segment," said Mr. Jim Cheah, Vice President & Country Manager, MasterCard Malaysia.
Customers applying for the Citi Prestige Card would be entitled to a Nikon 1 J2 camera, worth RM2, 718* (terms and conditions apply). The annual fee for the card is RM1,000.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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