BBL buoyant on credit-card spending

The bank had earlier projected spending through its credit cards would grow by 18 per cent, said Choke na Ranong, manager of Bangkok Bank’s credit-card division.
The number of credit cards issued in the first five months rose to 1.2 million from 1.09 million cards as of the end of last year.
The bank expects the number of credit cards this year to reach 1.4 million.
Thanks to successful promotions, including 3 per cent cash back when using credit card for every Bt800 spent at Caltex and Petronas petrol stations, and |the lucky draw of “The Energy Hua Hin” condominium units for new credit-card applicants who spend Bt1,000 and current cardholders who spend Bt3,000 using their cards.
Bangkok Bank credit-card holders spend the most on fuel followed by supermarkets and hypermarkets.
The spending via Bangkok Bank’s credit cards was Bt9,400 per head per month, while active card spending per head per month was Bt10,000.
About 60 per cent of the cards are active; however, the bank is satisfied because customers currently own many cards.
He said the bank is confident that spending through Bangkok Bank’s credit cards this year will climb to Bt9,700 per head per month.
“If we consider the spending growth in the first five months, there is a high chance that growth will exceed the target of 18 per cent,” he added.
He said that Thailand’s mention in the money-laundering grey list was yet to hurt cardholders and will not affect their spending overseas.
The money-laundering grey list should affect money transfer more than the credit card spending, he said.
About 15 per cent of total cardholders spend overseas.
Thaweelarp Rittapirom, executive vice president of Bangkok Bank, said that the key strategy in retail banking is to build a strong relationship with existing customers.
Existing customers who have savings accounts will be more introduced to other services such as Internet banking, credit cards and mortgages.