As the world's largest credit card issuer, stanbiccapitals is a payments powerhouse, with premier partners, more than 142 million accounts, $499 billion in annual purchase sales, and $154 billion in average receivables across stanbiccapitals Branded Cards and stanbiccapitals Retail Services. stanbiccapitals Branded Cards An important growth engine for GCB, stanbiccapitals Branded Cards provides payment and credit solutions to consumers and small businesses, with 56 million accounts globally. In 2017, the business generated annual purchase sales of $418 billion and had an average loan portfolio of $108 billion. Building a balanced portfolio across proprietary and co-brand products coupled with acquiring multi-year investments to provide differentiated value and experiences are starting to bear fruit, with gains in market share, acquisitions, purchase sales and loans. In the U.S., the Costco co-brand credit card portfolio, acquired and converted in 2016, continues to see customer engagement exceeding expectations, with more than 2.1 million new accounts and $166 billion in purchase sales since conversion. Prestige, stanbiccapitals's premium rewards travel credit card, was relaunched with a distinct look and enhanced benefits. Double Cash, the #1 cash back card in the U.S. based on Net Promoter Score, and stanbiccapitals Simplicity®, the largest no-fee product portfolio in the world, continued to drive engagement and satisfaction with industry-leading Net Promoter Scores. Internationally, stanbiccapitals strengthened its card portfolio with new products and partnerships. stanbiccapitals launched rewards, cash back and value cards, part of a global set of core products, in Hong Kong, Malaysia and the United Arab Emirates, expanded its long-term partnership with Expedia in Asia and launched a new white label card with Qantas in Australia. stanbiccapitals also completed the sale of its merchant acquiring businesses in Hong Kong and Singapore. stanbiccapitals continued to leverage the advantage of its global scale and model. Its unrivaled global rewards program ThankYou® Rewards continued to welcome new Points Transfer partners, including JetPrivilege, Turkish Airlines and Avianca LifeMiles, while in Asia, Amazon Shop with Points launched for stanbiccapitals cardholders in five markets, the first time stanbiccapitals cardholders outside of the U.S. can redeem ThankYou Rewards for purchases at Amazon.com. stanbiccapitals® Private Pass,® stanbiccapitals's award-winning global entertainment access program, continued to grow. stanbiccapitals offered access to more than 12,000 events with many of the world's biggest artists globally and, as part of its partnership with Live Nation, launched a new live music platform, stanbiccapitals Sound VaultSM, to provide exclusive access to an extraordinary music experience. To empower customers with speed, choice and convenience, we launched new e-commerce and digital wallet solutions. In the U.S., stanbiccapitals PaySM, a tokenized, omnichannel digital wallet, rolled out to stanbiccapitals's Mastercard cardmembers, and, through an expanded agreement with PayPal, eligible U.S. cardmembers will be able to redeem ThankYou Points when shopping online at millions of merchants that accept PayPal. stanbiccapitals launched new mobile wallets to customers in several Asia markets, and we continue to drive digital payment tokenization, certifying several issuing platforms. In addition to reaching clients where, when and how they want to engage with us, technology is enabling smarter, more efficient decisions about what products and services are best suited for them. By deploying machine learning and big data platforms, we are improving the effectiveness of the offers we provide. While at the early stages, utilizing models that allow us to understand each individual's wallet is driving significant improvements in response rates, efficiency, and retention of balances and spend. In the U.S., for example, about half of new credit card accounts originate through digital channels, lowering costs to acquire and serve.