In Brief: Home Depot and Citi in Co-Branding Deal

Home Depot Inc. said Friday that Citigroup Inc. is issuing the retailer's first co-branded credit cards.

The Home Depot Rewards and Business Rewards cards run on MasterCard Inc.'s network. Cardholders can earn two points for every dollar spent at the Atlanta chain's Home Depot or Expo Design Center stores and one point for every dollar spent at other stores.

The retailer also said it will offer cardholders 2,500 bonus points or a $25 gift card on their first purchase at Home Depot or Expo Design Center.

Home Depot has a deal to buy EnerBank, a $91 million-asset industrial loan company in Salt Lake City. It plans to use the acquisition to offer lending services to the customers of independent home improvement contractors. An application for regulatory approval is pending.

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