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MBNA finalise sale of credit card assets to Lloyds for £1.9bn
Lloyds Banking Group has finalised the purchase of MBNA’s UK credit card business from Bank of America for £1.9 billion pounds in an effort to increase profit and reduce its reliance on mortgage lending. The move represents the first major acquisition for Britain’s biggest mortgage lender, which is part-owned by the government, since it was bailed out [...]
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Lloyds front-runner for BofA’s UK credit card business
Lloyds Banking Group has emerged as the leading bidder for Bank of America’s (BofA) £7 billion (A$12 billion) credit card business in Britain, taking the UK lender closer to its first acquisition since being rescued by the taxpayer more than seven years ago. According to reports, Lloyds had moved ahead of US private equity group [...]
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Hong Kong credit card market on the rise
Credit cards dominate the Hong Kong payment cards market in terms of transaction volume and value during the review period (2010-2014) – a trend which is expected to continue up to 2019. An increase in the use of contactless cards, enhanced security on credit card transactions and changing consumer lifestyles are the main factors behind [...]
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Azerbaijani credit card market
Azerbaijanis are showing a preference for credit cards, resulting in increased credit card transaction values and volumes; due to a rising demand for consumer credit and the number of banks offering instalment cards. In 2014, the credit card market accounted for 21.8%, 21.7% and 19.8% of the overall payment cards in terms of number of cards [...]
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US credit card use growth rate overtaking debit
US credit card use appears to be growing faster than debit card use, according to a new Federal Reserve Bank of Philadelphia report. The report shows between 2007 and 2012, credit cards’ share of payments increased 5% at gas stations and grocery stores, and 2% at discount stores. “The larger share gains by credit cards [...]
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