Citizens Bank Partners With MBNA America Bank to Provide Credit Card Service.Business Editors FLINT, Mich.--(BUSINESS WIRE)--June 27, 2001 Citizens Bank has formed an arrangement with MBNA MBNA Monument Builders of North America MBNA Mercedes-Benz North America MBNA Maryland Bank, National Association MBNA Maryland Bank North America MBNA Mount Baker Nurses Association (Bellingham, Washington) America Bank to provide credit card services The software support for PC Cards. PC Card applications talk to Card Services. See PC Card. to its existing clients as well as its future clients. MBNA, headquartered in Wilmington, Delaware Wilmington is the largest city in the state of Delaware and is located at the confluence of the Christina River and Brandywine Creek, near where the Christina flows into the Delaware River. , is the world's largest independent credit card lender with very competitive products and excellent customer service. Nick Cilfone, Citizens' executive vice president of retail banking, said, "Citizens has been in the credit card business since 1953. However, because this business has become more volume, marketing, and technology driven, a bank needs a portfolio of substantial size to compete and achieve the necessary profitability and return." Cilfone added, "Through our arrangement with MBNA, Citizens Bank will have the opportunity to offer competitive credit card products and service levels to our clients in a much more efficient manner." Citizens will begin to offer both the Preferred Card and Platinum Card immediately. Existing accounts are scheduled to transfer to MBNA's system towards the end of the third quarter. Citizens Bank is a subsidiary of Citizens Banking Corporation (Nasdaq:CBCF CBCF Canadian Breast Cancer Foundation CBCF Congressional Black Caucus Foundation CBCF Community Based Corrections Facilities CBCF Commander, Base Communications Facility ), a diversified financial The diversified financial services segment includes a range of consumer and commercially-oriented companies offering a wide variety of products and services, including various lending products (such as home equity loans and credit cards), insurance, and securities and investment services company providing a full range of commercial, consumer, mortgage banking, trust and financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against services to a broad client base. Citizens operates 202 branch, private banking, and financial center locations and 246 ATMs throughout Michigan, Wisconsin, Iowa, Minnesota and in suburban Chicago, Illinois. Citizens Banking Corporation has assets of $8.2 billion. Total trust assets are $3.2 billion. For more news and information about Citizens visit www.citizensonline.com MBNA Corporation, a bank holding company and parent of MBNA America Bank, N.A., a national bank, has $88 billion in managed loans. MBNA is the largest independent credit card lender in the world. |
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