MBNA signs Bank of Hawaii to card issuing deal; acquires Amex card portfolio

Source: Bank of Hawaii

Bank of Hawaii Corporation (NYSE:BOH) and MBNA America Bank, N.A. announced today the signing of a joint marketing agreement under which Bank of Hawaii will offer Visa and American Express credit cards to consumers and Visa credit cards to businesses.

Bank of Hawaii anticipates introducing the new credit cards in the third quarter of 2006.

"This agreement is great news for Bank of Hawaii customers. Bank of Hawaii will now offer both an American Express and a Visa credit card," said Allan R. Landon, Bank of Hawaii Chairman and Chief Executive Officer. "MBNA is a leader in the agent credit card industry with a reputation for delivering outstanding customer service."

Under a separate agreement, MBNA purchased the existing Bank of Hawaii branded American Express credit card accounts from American Express. Later in 2006, existing cardholders will receive a new American Express card with the Bank of Hawaii brand issued by MBNA.

Comments: (0)