American Express Bank aims to expand presence in Indian market

As part of increasing its subscriber base, US-based American Express Bank looks to have 2-3 partnerships with local financial institutions that have strong presence in the domestic market, a top official said today.

"We are looking at two or three partnerships this year particularly in the eastern region", American Express Banking Corporation chief executive officer Shailesh Baidwan told reporters at the sidelines of a function here.

According to him, American Express currently offers co-branded cards in association with Kingfisher Airlines and public sector Indian Overseas Bank.

"We already have a different partnership model. With Kingfisher we offer a co-branded card. But with the partnerships what we look for is to have a strong presence. We are looking at partnerships which will expand our presence (in the country)," he said.

Currently it offered American Express Platinum credit Cards, American Express Platinum Reserve Credit Cards, American Express Kingfisher First credit card and American Express Gold Card in India.

Shailesh and other officials were here to announce their tie-up with Chennai-based Indian Overseas Bank for offering American Express Gold and Platinum Credit cards. Initially, it would be available in the 500 branches of IOB in Delhi, Mumbai and Chennai.