US Bank, lead bank of US Bancorp, has acquired existing credit card portfolio of US-based grocery retailer The Kroger's from RBS Citizens, a subsidiary of Royal Bank of Scotland.
US Bank currently provides a number of retail, corporate banking, trust, capital markets and credit services for Kroger and plans to offer additional financial services for Kroger customers.
Kroger has nearly 2,500 locations operating under several brand names and US Bank operates bank branches in 192 of those locations through an in-store banking relationship.
Pam Joseph, vice chair of payment services for US Bancorp, said: “Our expanded partnership with Kroger leverages US Bank’s entire spectrum of retail and consumer banking services. Our industry leading payments experience, together with Kroger’s loyal customer base and significant retail expertise enables us to drive growth and enhance value with these new payment services.”
Kathy Kelly, president of Kroger Personal Finance, said: “Both Kroger and US Bank are committed to great customer service and providing customers with the right financial products to meet their needs. Together with US Bank, Kroger Personal Finance is excited to continue developing new, innovative financial products and services for our customers.”