The Royal Bank of Scotland Group (RBS) has won the "Best Credit Card Initiative in Asia" category at the Asian Banking and Finance Retail Banking 2009 Awards Ceremony, held in Singapore on 21 January 2009. This prestigious award recognises RBS's Switch Platinum Card for its innovative proposition and offering of unparallel financial value and convenience to cardholders.

Rowena Everson, Editor at Asian Banking and Finance, a leading industry publication in the region, and one of the judges of the Award, commented on the win: RBS's Switch Platinum Card impresses us with its broad range of unrestricted financial benefits such as 0% instalment payments at all merchants. The card's well-targeted marketing has a winning combination that mixes desire with good cost sensitive promotions.

Pamela Tan, Head of Consumer Finance at RBS Singapore, said: "The Singapore team is delighted to have won this award. RBS's Switch Card, launched in July 2008, focuses on offering real financial value by providing benefits that will allow our clients to enjoy more savings and flexibility in financing their purchases, beyond simply lifestyle benefits."

RBS's Switch Platinum Card offers an array of cost-saving benefits including a low interest rate of 18% per annum, permanent waiver of annual membership fee, free cash advance service on automated teller machines, and 0% instalment payment plan for large ticket purchases at all merchants. It also gave cardholders access to exclusive sporting events like the world's first night Formula One race in Singapore and UEFA European Championship in Switzerland.

Ajay Mathur, Head of Retail Banking Singapore, added: "This award is an acknowledgement of the bank's success in developing innovative and competitive banking products. Going forward, we will continue to focus on creating differentiated consumer finance products that offers unparallel value and benefits in different market environment for targeted client segments.

RBS has a presence in 15 countries across Asia, with a total of 171 retail branches. In Singapore, the bank's Retail Banking business focuses on providing tailored wealth management services to the mass affluent group of clients and segment-targeted consumer finance products. RBS Singapore has five Royal Preferred Banking Centres and a network of over 110 automated teller machines under the ATM5 network.

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Press Enquiries

Tan Ping Ping

Tel: +65 98458904
Email : ping.p.tan@rbs.com

Notes to Editors:

The Royal Bank of Scotland Group (RBS)

The Royal Bank of Scotland Group is a major international bank in Asia Pacific with a presence in 15 markets serving corporates and institutional clients. RBS provides a full range of investment and transaction banking capabilities as well as wealth management, retail and commercial banking. The international wealth management arm offers private banking and investment services to clients in selected markets through the RBS Coutts brand.

The RBS Group operates in the following Asia Pacific markets: Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, Pakistan, Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam