HDFC Bank Diners Club International Credit Cards

Finance/Banking

HDFC Bank launches co branded credit cards

by Prashant K.

(L to R): Ms. Diane Offereins, EVP& President, Payment Services, Discover Financial Services and Mr. Aditya Puri, MD, HDFC Bank

HDFC Bank reignites Diners Club International brand in India

The tie-up marks the comeback for Diners Club credit cards in India 

 An exclusive range of cards in three variants targeted at elite customers 

Mumbai: HDFC Bank, India’s second largest private sector bank, today launched an exclusive range of credit cards in association with Diners Club International, a business unit of Discover Financial Services. The HDFC Bank Diners Club International Credit Cards are available in three variants – HDFC Bank Diners Club Black, HDFC Bank Diners Club Premium and HDFC Bank Diners Club Rewardz.  

The Cards are tailored to complement the complex and fast-paced lifestyle of HDFC Bank‘s elite clients and offer a wide range of premium travel and lifestyle benefits. HDFC Bank Diners Club cardholders would have direct and hassle-free access to the Diners Club Airport Lounge Program spread over 450 lounges worldwide. In addition, the Cardholder would be able to exchange global reward points for miles on major airlines and hotels. The Cardholders would also have exclusive benefits and offers at Taj properties, Taj Safaris, Taj Air and Small Luxury Hotels Group. Additionally, the cardholders would be privy to instant global recognition reflecting their status and preferences through a dedicated and elite concierge program - HDFC Bank Diners Club Concierge. While all of the cards are aimed at the elite customers, HDFC Bank Diners Club Black, the top-of-the-line card, is also the most exclusive card ever to be launched by HDFC Bank in India.

Speaking on the occasion, Mr. Parag Rao, Senior Executive VP, Business Head, Credit Cards & Merchant Acquiring Services, HDFC Bank, said, “It gives us immense pleasure to join hands with Diners, a card brand all of us grew up looking up to and dreamt of having it in our wallets at some point in our lives. I have no doubt the HDFC Bank-Diners cards will recreate the magic of yore for many more Indians who will experience the value proposition Diners and HDFC Bank now offer. For us, it’s something that will further enforce HDFC Bank's position as the nation's premier card issuer, one that the country's rich prefer. The rich legacy of Diners cards combined with the wealth of experience that HDFC Bank brings to the fore will provide the necessary impetus in the quest to offer the best to our discerning customers.”

Ms. Diane Offereins, EVP and President, Payment Services, Discover Financial Services, stated, “Expanding the Discover and Diners Club global footprint has been an important company priority for us. We recognize the importance of India as a key emerging market and are eager to expand the Diners Club brand in this region, Given HDFC Bank’s prestige and influence in this area, we rely on this strong partner to help us bring exceptional products and services toIndia’s affluent class, so we’re very pleased to see these cards launched in-market.”

HDFC Bank was promoted in 1995 by Housing Development Finance Corporation (HDFC), India's leading housing finance company, HDFC Bank is one of India's premier banks providing a wide range of financial products and services to its 25 million* customers across hundreds of Indian cities using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking. Within a relatively short span of time, the bank has emerged as a leading player in retail banking, wholesale banking, and treasury operations, its three principal business segments.

The bank’s competitive strength clearly lies in the use of technology and the ability to deliver world-class service with rapid response time. Over the last 17 years, the bank has successfully gained market share in its target customer franchises while maintaining healthy profitability and asset quality.

As of June 30, 2012, the Bank had a distribution network with 2,564 branches and 9,709 ATMs in 1,416 localities.

For the quarter ended June 30, 2012, the Bank’s total income was INR 95.369 billion (`9,536.9 crore) as against INR 70.98 billion (`7,098 crore) for the quarter ended June 30, 2011. Net revenues (net interest income plus other income) were INR 50.135 billion (`5,013.5 crore) for the quarter ended June 30, 2012, as against INR 39.68 billion (`3,968 crore) for the corresponding quarter of the previous year. Net Profit for the quarter ended June 30, 2012, was INR 14.174 billion (`1,417.4 crore), up by 30.6% over the corresponding quarter ended June 30, 2011.

The Bank’s total balance sheet size increased by 25.9% to INR 3,600.01 billion (`360,001 crore) as of June 30, 2012. Total deposits were INR 2,575.31 billion (`257,531 crore) as of June 30, 2012.

Total income for the year ended March 31, 2012, was INR 325.3004 billion (`32,530.04 crore)

Leading Indian and international publications have recognized the bank for its performance and quality. For more information please log on to: www.hdfcbank.com

Diners Club International is owned by Discover Financial Services (NYSE: DFS), a direct banking and payment services company with one of the most recognized brands in U.S. financial services.  Established in 1950, Diners Club International became the first multi-purpose charge card in the world, launching a financial revolution in how consumers and companies pay for products and services. Today, Diners Club is a globally recognized brand serving the payment needs of select and affluent consumers, offering access to more than 450 airport lounges worldwide, and providing corporations and small business owners with a complete array of expense management solutions. With acceptance in more than 185 countries and territories, millions of merchant locations and access to over 845,000 cash access locations and ATMs, Diners Club is uniquely qualified to serve its card members all over the world.  For more information, visit http://www.dinersclub.com