DALLAS, Sept. 18 /PRNewswire-FirstCall/ -- Comerica Bank today announced that it is the largest issuer of pre-paid commercial cards, according to data provided by The Nilson Report, a leading payment systems publication. The announcement was made by Daniel J. McCarty, senior vice president and director of Treasury Management Services for Comerica.
In addition to its #1 ranking in pre-paid commercial cards, Comerica ranked #11 overall among the nation's 2006 top commercial card issuers, up from #14 a year ago, according to a recent edition The Nilson Report. Comerica also was ranked by the Carpinteria, California-based publication as the:
-- 3rd largest issuer of fleet cards; -- 9th largest issuer of corporate cards; and -- 17th largest issuer of purchasing cards.
"Businesses tell us they want the flexibility, convenience and security of commercial card products," said McCarty. "We're very proud of these rankings because it means that our customers value the services we provide. These rankings also highlight our continued ability to outperform significantly larger banks. For example, we jumped from second to first overall among pre- paid commercial card issuers, with a 118 percent increase from last year. We are extremely pleased by these results."
Comerica's Commercial Cards are a family of products that include Corporate, Fleet, Purchasing, Stored-Value and Multi-Cards. The cards are designed to help owners and managers of businesses of all sizes improve cash flow, reduce payables, streamline procurement and provide increased visibility to corporate spending. Comerica provides its commercial card customers with a high degree of service, customization and consultation. Each card is MasterCard® branded, secure, and backed by Comerica's unparalleled customer service.
Comerica Bank is a subsidiary of Comerica Incorporated (NYSE: CMA), a financial services company strategically aligned into three major business segments: the Business Bank, the Retail Bank, and Wealth & Institutional Management. Comerica focuses on relationships and helping businesses and people to be successful. Comerica Bank locations can be found in Michigan, California, Texas, Florida and Arizona, with select businesses operating in several other states, and Canada and Mexico. Comerica reported total assets of $58.6 billion at June 30, 2007. To receive e-mail alerts of breaking Comerica news, go to http://www.comerica.com/newsalerts.
CONTACT: Wayne Mielke (Texas), +1-214-969-6548, Barry Holtzclaw
(California and Arizona), +1-408-556-5111, or Sara Snyder (Michigan and Florida), +1-313-222-9617, all of Comerica Bank
