BRUSSELS, Belgium -- American Express and Generale Bank, the
leading financial institution here, said they are forming a venture
to issue American Express cards in Belgium.
The existing American Express card portfolio and the license to
issue cards in Belgium will transfer to a new company, called Alpha
Card. The company will begin offering cards later this year.
"This new entity will allow us to offer a wider choice of
products to our customers," said Peter Fimmers, marketing manager
at Generale Bank. "By expanding our card portfolio, particularly in
the premium and business segments, we will further enhance our
position in the card market."
The new company will offer a full range of consumer cards as
well as small business and some corporate cards.