Driving Credit Card Strategies by Providers (Maybank, BBVA, Banorte, and Ziraat Bankasi), Competitor Overview and Future Implications

1.1 Market overview
1.2 Critical success factors
1.3 Competitor overview

2.1 Maybank recorded the strongest organic credit card growth in Malaysia over the review period
2.2 Maybank’s success can be attributed to new product releases that included innovative features and rewards
2.3 Maybank has focused on partnerships with global brands and tech companies to drive growth

3.1 BBVA recorded the strongest organic credit card growth in Spain over the review period
3.2 BBVA initiated a customer-centric strategy in 2010 to upgrade all its offerings
3.3 BBVA signed sponsorship deals with the Spanish football league and the US NBA to boost brand awareness
3.4 BBVA upgraded its digital capabilities to improve convenience as well as its understanding of customers

4.1 Banorte recorded year-on-year growth across most of the review period
4.2 Banorte escalated efforts to succeed in the credit card sector post-2008 via various campaigns
4.3 Banorte revised its marketing strategy to highlight its status as a domestic bank
4.4 Banorte improved various aspects of its credit card offering in 2019
4.5 Banorte partnered with Rappi to launch a credit card

5.1 Ziraat Bankasi’s credit card market share accelerated post-2017
5.2 Ziraat’s sports sponsorships were not a source of growth for the bank
5.3 In 2017, Ziraat began to develop the dual-purpose Bankkart Card, which accelerated its market share growth
5.4 From 2019, Ziraat launched a range of services to help customers amid difficult economic conditions

6.1 Abbreviations and acronyms
6.2 Methodology
6.3 Secondary sources
6.4 Further reading

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Figure 1: Year-on-year growth of Maybank’s credit card market share in Malaysia, 2010-20
Figure 2: In Malaysia, Maybank has grown its credit card business faster than any local competitor
Figure 3: Market shares across all product categories have grown for Maybank in Malaysia since 2010
Figure 4: Maybank’s financial performance in Malaysia grew strongly across the review period
Figure 5: BBVA’s credit card market share in Spain has flatlined since 2014
Figure 6: In Spain, BBVA has grown its credit card business faster than any local competitor other than Santander (which did so via acquisition)
Figure 7: BBVA’s credit card and mortgage shares have grown the most since 2010
Figure 8: BBVA’s financial performance in Spain has worsened since 2010
Figure 9: Banorte’s credit card market share in Mexico has grown consistently since 2012
Figure 10: In Mexico, Banorte grew its credit card market share faster than any competitor
Figure 11: Banorte’s market share grew steadily across most product segments in Mexico
Figure 12: Banorte’s financial performance in Mexico has been strong since 2010, with operating costs growing at a slower rate than revenue
Figure 13: Ziraat’s credit card market share in Turkiye has grown significantly since 2012
Figure 14: Ziraat recorded strong credit card market share growth while its competitors struggled
Figure 15: Ziraat’s personal loan and retail deposit market shares have shrunk
Figure 16: Ziraat’s financial performance has been strong since 2014, but this growth has resulted in losses due to higher operating costs