A new Canadian financial institution will be ready to market itself by the end of the year, although it has not decided how its advertising assignment will be handled.
Peter Frank, senior vice-president of media relations for MBNA America, says the marketing methods for MBNA Canada Bank will probably be the same, but he isn’t sure whether an agency will be hired or advertising will be handled in-house as it is in the u.s.
He says the marketing mix south of the border has traditionally been direct mail, print advertising and event marketing.
MBNA America of Wilmington, Del. is the second-largest credit card lender in the u.s., primarily via affinity cards issued through both Visa and MasterCard.
Its affinity cards are endorsed by thousands of u.s. groups including Ralston-Purina, LL Bean, various associations, and the American Institute of Architects.
As of Sept. 30, Frank says MBNA America had $46.2 billion in managed loans, or outstanding credit card debt.
MBNA Canada Bank is being set up in Ottawa and will be offering a National Hockey League affinity MasterCard and other non-endorsed MasterCard products by the first quarter of 1998.
Patrick J. O’Dwyer, who is moving from MBNA America to be president and ceo, will head up MBNA Canada Bank.
About 70 people will be working in the Ottawa office by the end of the year, with an eventual staff of 1,000 expected.
