The Cards — targeted at high-net-worth individuals who value travel and lifestyle benefits — will be accepted on the American Express global merchant network. Cardholders will enjoy a comprehensive portfolio of benefits that will be offered in the Sri Lankan market for the first time, including global acceptance, access to American Express® Membership Rewards(TM), a range of insurance benefits, emergency support services and access to over 1,700 American Express Travel Services Offices in 130 countries and more than 550,000 ATMs worldwide.

American Express and Nations Trust have signed an Independent Operator agreement, whereby Nations Trust will issue Nations Trust Bank American Express Cards in Sri Lanka and provide customer service to its cardholders. In addition, Nations Trust will be responsible for signing up new merchants in Sri Lanka and providing services to local merchants accepting the card.

“Today marks a significant step forward in American Express' partnership strategy in the Asia Pacific region,” said Kula Kulendran, vice president, Asia-Pacific Australia, American Express Global Network Services, the unit that manages the company's third-party card-issuing business. “Nations Trust Bank is widely recognized as one of the most innovative of the new generation commercial banks in the country and is supported by one of the country's largest business conglomerates. We are confident that by partnering with them, we can offer a wide range of innovative, world-class products, services and benefits to consumers in Sri Lanka.”

The agreement is part of American Express' global strategy to expand its business through strategic partnerships with banks in selected markets. American Express has signed agreements with numerous partners across the world to issue cards, including Independent Operator agreements in countries such as Korea, Greece, Ireland, Venezuela, Pakistan and Vietnam.

Commenting on the occasion, Nations Trust Bank CEO Moksevi Prelis said, “From its inception, Nations Trust Bank has followed a differentiation strategy to increase market share. Through its exclusive partnership with American Express, Nations hopes to grow its card business by leveraging the large consumer relationships that its promoters — the John Keells group and the Central Finance group — already have. Nations plans to focus on this market segment to capitalize on cross-selling other products and services the bank offers, such as personal, commercial, investment and private banking, trade services, cash management, treasury and capital market services.”

Zulfiqar Zavahir, Deputy CEO, Nations Trust Bank said, “The Nations Trust Bank American Express Credit Cards are targeted to the affluent and aspiring affluent segment and will give Sri Lankan consumers access to greater financial flexibility, superior and more personalized customer service through our 24/7 Customer Service Hotline, better value and a wide range of innovative features on the card. These features, coupled with global acceptance and worldwide emergency assistance, makes the Nations Trust Bank American Express Credit Card a truly sought-after credit card globally, and it is our pleasure to introduce this world-renowned product to the Sri Lankan market.”

Highlighting American Express' commitment to the Sri Lankan market, Kulendran said, “The Sri Lankan market offers excellent opportunity, and we will continue to evaluate and offer more products and services that support the lifestyle needs of discerning customers. For instance, we are introducing the Membership Rewards customer loyalty program for the first time to the Sri Lankan consumer. This program offers one point for every 100 Rs. spent on the card. Membership Rewards points can be redeemed for a range of fine gifts, lodging and dining rewards that reflect the lifestyle of the customers. All Nations Trust Bank American Express Cardholders will automatically be enrolled into Nexus — the very successful loyalty program run by the John Keells Group — and continue to earn loyalty points at all Nexus outlets in addition to Membership Rewards points.”

Global Acceptance
The Nations Trust Bank American Express Credit Cards will be valid across the globe. Cardholders will be able to use their Nations Trust Bank American Express Credit Cards at thousands of popular and leading merchant locations in Sri Lanka and millions of establishments in more than 200 countries worldwide.

Powerful Range of Benefits
The Nations Trust Bank American Express Cards feature a range of benefits, including revolving credit, debit options through Nations Trust accounts and cash advances up to 50% of credit limits through the Nations Trust branch network, foreign exchange outlets and access to 550,000 ATMs worldwide. In addition, they will have access to an array of retail banking products from Nations.

Travel Assistance
Cardholders will have access to over 1,700 American Express Travel Service Locations in more than 130 countries worldwide that provide Emergency Card Replacement within 24 hours domestically and 48 hours overseas (with zero liability on a lost or stolen card after reporting the loss), as well as help with itinerary planning, confirmation of reservations, car rental and other travel services when at home and overseas.

In addition, Cardholders will be covered by an exclusive package of travel assistance including pre-trip advice (required vaccinations, visa, and customs information), interpreters, medical and legal referrals, lost ticket replacement and other card-related assistance through American Express Emergency Assist.

Insurance Benefits
Peace of mind is provided when traveling, through free travel accident insurance coverage of up to USD 50,000 for the Nations Trust Bank American Express Credit Card and up to USD 100,000 for the Nations Trust Bank American Express Gold Credit Card when tickets for airlines, railways or other public carriers are charged to the Card. Travel Inconvenience Insurance coverage is offered on baggage loss/delay, flight delays and missed connections.

In addition, cardholders can also enjoy an exclusive range of offers at hotels, dining and retail outlets through American Express Membership Privileges.

About Nations Trust Bank
Incorporated in July 1999, by taking over the local operations of the Hong Kong based Overseas Trust Bank, Colombo branch, Nations Trust Bank is promoted by two leading corporations in Sri Lanka — the John Keells Group (JK) and the Central Finance group (CF) — together with the International Finance Corporation (IFC). The BNP Paribas South Asia Fund recently acquired a four percent stake in the Bank subsequent to the Rights Issue.

Innovative in approach, Nations Trust Bank has managed to sustain its success in this highly competitive market by the introduction of concepts such as Corporate and Personal Financial Solutions delivered through an ‘On-line' Network of Branches, a brand new concept of Mini Branches, extended banking service hours to late evenings and weekends, 365 day banking and modern delivery channels such as ATM's, Phone Banking and Internet banking.

About American Express Global Network Services
Since 1996, American Express has been pursuing a strategy of opening its merchant network and card product portfolio to third-party issuers around the world. By leveraging its global infrastructure and the powerful appeal of the American Express brand, the company aims to gain even broader reach for its network worldwide. American Express has established more than 70 card-issuing partnership arrangements in over 80 countries including many in the Asia-Pacific region.

American Express Company is a diversified worldwide travel, financial and network services company founded in 1850. It is a world leader in charge and credit cards, Travelers Cheques, travel, financial planning, business services, insurance and international banking.