Bank of America has retained its title as the largest credit card lender in Europe with a 9.4% market share, according to a recent independent study by research organization Euromonitor. This ranking is one re example of Bank of America being a market leader not only in the U.S. but also around the world.
First named as the largest credit card lender in Europe in 2007, the bank's share of the market has remained stable compared to other major issuers such as Barclays, RBS and HSBC, who have lost ground.
Ian O'Douhgerty, president of Europe Card Services, said "Bank of America's dominance of the U.K. market---with 19% share--remains key to our overall position in Europe. Given the turbulent economic environment in recent months, this is a fantastic achievement, and one which we should all be proud of."
The customer research commissioned by Bank of America was conducted between September and October 2008. The research methodology combined published sources of market and company data with trade interviews of leading issuers, trade association and government statistical offices to access the latest data and opinion.
A division of Global Cardservices, Bank of America's European credit card business was established in the U.K. in 1993, Ireland Card Services opened for business in Dublin in 1997 and has grown to become the No. 3 credit card provider in the country, with a 26% share. Spain Card Services was established in 2002 and has an estimated market share of 13% in revolving credit cards.
Bank of America Global Card Services is the largest credit card lender in the world with more than $226 billion in credit card and other unsecured loans, serving approximately 70 million customers across operations in the United States, Canada, the United Kingdom, Ireland and Spain.
First named as the largest credit card lender in Europe in 2007, the bank's share of the market has remained stable compared to other major issuers such as Barclays, RBS and HSBC, who have lost ground.
Ian O'Douhgerty, president of Europe Card Services, said "Bank of America's dominance of the U.K. market---with 19% share--remains key to our overall position in Europe. Given the turbulent economic environment in recent months, this is a fantastic achievement, and one which we should all be proud of."
The customer research commissioned by Bank of America was conducted between September and October 2008. The research methodology combined published sources of market and company data with trade interviews of leading issuers, trade association and government statistical offices to access the latest data and opinion.
A division of Global Cardservices, Bank of America's European credit card business was established in the U.K. in 1993, Ireland Card Services opened for business in Dublin in 1997 and has grown to become the No. 3 credit card provider in the country, with a 26% share. Spain Card Services was established in 2002 and has an estimated market share of 13% in revolving credit cards.
Bank of America Global Card Services is the largest credit card lender in the world with more than $226 billion in credit card and other unsecured loans, serving approximately 70 million customers across operations in the United States, Canada, the United Kingdom, Ireland and Spain.
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