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Friday, September 20th, 2019

UOB Malaysia aims to increase local card base by 13%

by December 28, 2016 General
Lim: ‘Wealthy customers in the region want products and services that meet lifestyle needs.

Lim: ‘Wealthy customers in the region want products and services that meet lifestyle needs.

KUALA LUMPUR: United Overseas Bank (UOB) Bhd aims to grow its local credit and debit cards base by 13%.

It is also seeking to improve total billings by 14% in the next four years.

“To match the travel expectations of the affluent in Malaysia, we have embarked on regional partnerships with strategic travel related brands to strengthen our offers to these customers.

“These partnerships continue to enhance our suite of offerings as we increase market share in this segment,” said managing director and country head of personal financial services, Ronnie Lim.

According to UOB’s “Affluent Consumer Survey 2016”, on average, more than nine in 10 affluent Malaysians go overseas at least once a year.

Ronnie said as such, UOB would like to provide cost-efficient products and solutions to suit their needs.

“Credit cards such as UOB PRVI Miles which offer bonus incentives for travels, helps customers earn frequent flyer miles faster for travel deals.

“Wealthy customers in the region want products and services that meet lifestyle needs and this includes their travel habits,” he said in a statement yesterday.

UOB has partnered with Singapore Airlines, Expedia and Kaligo for its first-ever region-wide travel campaign. It aims to help customers stretch their vacation ringgit, especially in South-East Asian countries.

Lim said currently Malaysian consumers chose Asian destinations to maximise their purchasing power, aided by an increasing number of flights within the region, and more competitively-priced return fares.

UOB Malaysia card members stand a chance to receive up to 60,000 KrisFlyer miles which can be redeemed for a round-trip ticket to either Europe, the United States, Australia, Japan or South Korea, by spending RM750 in a single receipt.

UOB Malaysia is also giving away an equivalent of 10 million KrisFlyer miles until Jan 31, 2017, which can be redeemed for SilkAir (regional wing of Singapore Airlines) flights.

Lim said as Malaysia’s affluent continued to strike a balance between wanderlust and economic sensibilities, the bank anticipates intra-regional travels continuing to grow. – Bernama