Citibank Expands Philippine Card Business

June 17, 2008, 1:00 a.m. EDT 1 Min Read

Citibank Philippines Thursday launched a MasterCard Premier Airlines Miles credit card to replace its existing miles card that was exclusive to Hong Kong-based Cathay Pacific, according to a local report. Citibank says the card is designed to increase its miles-reward membership to 80,000 cardholders by the end of the year, up from 40,000 as of the end of May. "It's more than just a replacement card. It's a significant step forward," Mark Jones, Citibank Philippines business manager, says in the report. Besides Cathay, the new rewards card includes Singapore Airlines, Philippine Airlines, Thai Airway and Northwest Airlines, the reports says. The card also supports two travel alliances, One World and Star Alliance, which enables cardholders to earn and redeem their miles on more than 70 airlines worldwide. Miles earned with the new card do not expire, Citibank says.

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Litigation

CFPB tees up second funding battle with Supreme Court

Now that the Consumer Financial Protection Bureau has refused to request funding from the Federal Reserve System, many experts see the case making its way to the Supreme Court.

By Kate Berry

November 27
M&A

Pinnacle, Synovus expect Jan. 1 closing after Fed's approval

The two regional banks, which are combining in a merger of equals, had previously said they expected to complete the deal sometime in the first quarter of 2026.

By Kevin Wack

November 26
U.S. Bancorp

U.S. Bank is testing stablecoin issuance on Stellar network

The bank is a step closer to having its own U.S. dollar-pegged cryptocurrency. It could become the first major financial institution to issue a stablecoin.

By Penny Crosman

November 26
Federal Reserve

Does the Fed have an ethics problem?

Recent high-profile ethics violations by senior Federal Reserve officials, including new revelations concerning stock trades by former Fed Gov. Adriana Kugler, have sparked debate over the effectiveness of the central bank's oversight, even as some observers stress such cases remain rare.

By Maria Volkova

November 26
Cross border payments

Klarna's crypto and shopping moves; EMV for agentic payments

The Swedish financial technology firm issued its first stablecoin and signed a gift card distribution deal with BlackRock. Also, EMVCo is examining AI's impact on processing and more in the American Banker global payments and fintech roundup.

By John Adams

November 26
Employment data

Bank jobs hit lowest level since prior to pandemic: Report

U.S. commercial banks and savings banks have reduced employment by nearly 81,000 since the first quarter of 2023, including a net loss of 7,463 positions during the third quarter of this year, according to a new report from KRBA Financial Intelligence. Big banks, which have been embracing artificial intelligence, were big contributors to the decline.

By Allissa Kline

November 26