rivate lender United Overseas Bank (UOB) Indonesia is exploring a more segmented market for its credit card holders, such as female customers, in its bid to compete with other credit card issuers in the country.
UOB Indonesia intends to attract more customers by eyeing more distinctive segments as well as through maximizing the facilities and advantages it offers, said UOB Indonesia cards and payment head Dessy Masri in Jakarta over the weekend.
“We see that credit cards are more than just a payment facility, but it is a part of someone’s lifestyle,” said Dessy, adding that the bank issued credit cards in categories that targeted certain individuals.
The bank's Lady’s Card, for example, is a credit card for women that offers dining and shopping discounts.
Dessy said customers of the Lady’s Card grew by 128 percent year on year in the first half of 2017, contributing 50 percent of the bank’s new customers during the first semester.
“Lady’s Card partners with at least 80 beauty and fashion outlets,” she added.
UOB Indonesia has about 400,000 customers nationwide. The bank saw a 15 percent increase in credit card transactions and less than 10 percent growth in credit card customers during the first semester.
The bank’s non-performing loan (NPL) ratio was at 3 percent, according to Dessy. (dea/bbn)
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