What is the growth trend in credit card spending for AmBank?

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AmBank Reports Significant Growth in Credit Card Spending

AmBank Group has observed a notable upward trend in credit card spending among its customers, with total spending increasing by 24 per cent in the financial year (FY) 2022 compared to FY2021. This growth has prompted the bank to introduce new corporate cards designed to capture further spending within the business-to-business segment.
FY2022 Spending Shows Substantial Increase

The financial year 2022 marked a significant period for AmBank's credit card business, recording a 24 per cent rise in overall spending by its cardholders when contrasted with the preceding financial year, FY2021. This performance has been described as an outstanding record by the group's chief executive officer.
Launch of New Corporate Cards to Capitalise on Trend

Leveraging this positive spending trajectory, AmBank is launching two new Visa business cards: the AmBank Visa Infinite Business and the Visa Platinum Business Card. These cards aim to provide businesses with a straightforward method for managing purchases and daily operational expenses, while also offering enhanced rewards.
Targeting Business-to-Business Segment Growth

The introduction of these enhanced corporate cards is strategically aimed at capturing spending from the business-to-business market. This segment is being targeted as an opportunity to further expand the bank's credit card business, building on the existing positive spending trend observed in FY2022.

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What is the growth trend in credit card spending for AmBank?

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