Philippines-based Rizal Commercial Banking Corporation (RCBC), a part of the Yuchengco Group, is reportedly planning to boost its credit card operations in a move to target the profitable retail market.
As part of the expansion plan, RCBC aims to add 100,000 new cardholders to its client base, indicating a 25% growth compared to level at the end of 2014, reported INQUIRER.net.
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Additionally, Yuchengco Group has introduced several new features aimed to make credit cards friendlier for new users.
RCBC Bankard Services vice president and marketing head Angela Mirasol said: "Credit cards should be a tool for financial management."
Mirasol said that RCBC has already set aside capital to expand its credit card business by a quarter this year.
She added that RCBC has unveiled plans to issue more cards to employees and other personnel of companies in the Yuchengco Group of Companies.
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By GlobalData"If you want to be more conscientious with spending, you have to consolidate. We want to be the preferred card," Mirasol added.
