123 School Work

Citibank Launching a credit card to Asia Pasicif

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  Citibank: Launching the Credit Card in Asia Pacific (A)
  Executive Summary
  
  
  Citibank's New York headquarters as well as some of the country managers of Citibank are skeptical about launching a new product (credit card) to Asia Pacific because they think it is a risky investment. They view the Asia Pacific customers with very little experiences with credit cards and those countries hardly have any infrastructure, as they are underdeveloped. Furthermore, the management is concerned if they could adopt a mass market positioning to acquire enough credit customers and still maintain its upscale branch banking customers. They also concerned about credit card usage patterns and the premium pricing on card products. However, Rana Talwar, the head of Citibank's Asia Pacific Consumer Bank and some of the country managers support launching the credit card because they believe launching an innovative new product (credit cards) as a way of growing future revenues in the Asian Pacific.
  Company background and Strategy
  Citicorp is the largest banking company in the United States and ranked eleventh in the world with about$228 billion in assets in 1989. Its operations were broadly diversified across the banking industry in order to serve variety of individuals, institutions and commercial customers. Its branch banking business expanded its business into 9 million households in 15 countries throughout Asia Pacific and Middle East: Australia, Hong Kong, Taiwan, the Philippines, Korea, Guam, Singapore, Malaysia, Indonesia, Thailand, India, Pakistan, the Gulf (United Arab Emirates, Bahrain, Oman). Its the international presence had grown rapidly and it is recognized as the leader in foreign exchange market and a prestigious, customer oriented international bank.      
  Citibank's mission in the Asia Pacific region is to be the most profitable and preeminent provider to financial services and individuals and to affluent upper- and middle-income markets...