Retail Banking News Updates, February 8th 2012

AmBank launches premium cards
Malaysia’s AmBank has recently launched its premium cards, the AmBank World MasterCard and its syariah-compliant AmIslamic Bank World MasterCard Card. The cards targeted at the affluent and are designed to provide Cardmembers with due recognition of their status and accomplishments as well as an unparalleled level of service and membership privileges.

SBI on expansion spree
India's largest lender State Bank of India (SBI) will open 40 new branches and 100 automated teller machine (ATM) counters in Odisha this year. Overall, SBI is planning to expand the branch and ATM network country-wide by 1000 new branches and 2000 new ATMs through 2012.

Two Bahraini banks launch personal finance product
The Bahraini Saudi Bank and Al Salam Bank-Bahrain have launched a new Murabaha-based personal finance product that meets liquidity requirements of individuals and can provide liquidity up to BD250,000 ($663,000), with a payment period that can extend up to 84 months and a grace period for three months.

NAB puts its UK retail business under review
National Australia Bank unwittingly fanned the flames of smouldering speculation about the future of its U.K. retail banking operation by announcing it would put the business under review.

Re-disseminated by The Asian Banker