Aug 04, 2003 (Herald Sun - ABIX via COMTEX)
AMP Banking is stepping up its ties with American Express. A new gold credit card would be sold on a fee-per-card basis for Amex. Amex purchased AMP's card business in December 2002. The card will feature a low-balance rate transfer and offer a credit limit of $A5,000. Michael Guggenheimer, MD of AMP, said the cards would be sold through the Internet and its financial planners. AMP has been selling off its wholesale banking business since December 2002. It recently sold $A232 million worth of construction and property investments to Suncorp-Metway. The group has also sold its New Zealand credit card business and its British banking portfolios.
Publication Date: 5 August 2003
AMP LIMITED - ASX AMP: AMERICAN EXPRESS BANK INTERNATIONAL: SUNCORP-METWAY LIMITED - ASX SUN
By Bruce Brammall
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