Industrial and Commercial Bank of China (ICBC), China Merchants Bank (CMB) and
American Express today announced that ICBC and CMB will begin issuing the
Centurion Card in China. ICBC and CMB will issue Centurion, by invitation only,
to a select group of their respective top-tier customers.
According to the 2012 Hurun Wealth Report, by the end of 2011, there were a record 1,020,000 millionaires with assets of over RMB10 million (approximately equivalent to USD $1.6 million) in China, including an elite group of more than 60,000 “super affluent” individuals with assets over RMB100 million (approximately equivalent to USD $16 million).
“China is a fast-growing market with huge potential, especially in the affluent and super-affluent customer segments,” said Kula Kulendran, Executive Vice President and Head of Global Network Services, Japan, Asia-Pacific, Australia, American Express. “We are delighted that both ICBC and CMB recognize the value of Centurion and that they share our vision of offering the ultimate in privileges and service to their most discerning, affluent customers.”
“The launch of this flagship product in China, not only marks a milestone in our partnerships with both ICBC and CMB, but also reinforces American Express’ status as the network of choice for affluent customers around the world,” added Kulendran.
In 2004, ICBC became American Express’ first card-issuing bank partner in China. Since then, American Express and ICBC have worked together to introduce more than 30 credit card products for individual and corporate customers in China.
In 2010, American Express launched its card-issuing partnership with CMB, who launched the first American Express Green and Gold Cards with the iconic American Express Centurion image in China.
Globally, the Centurion Card is now being issued by invitation only in 31 markets.
About American Express
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About Industrial and Commercial Bank of China
ICBC is the world's largest bank by market value and customer deposits. It is also the leading credit card issuer in China with 76 million cardholders. ICBC is a market leader, providing a wide range of commercial banking services to individual and corporate customers.
About China Merchants Bank
Since its inception in 1987, CMB has grown with China’s economic progress into a national, joint-stock commercial bank that has a total net capital of 140 billion yuan, total assets of 2.6 trillion yuan, over 800 branches and over 50,000 employees, ranking it among the world’s top 100 banks.