IndusInd Bank has appointed Ogilvy & Mather as its new advertising agency. O&M has bagged the creative duties for the coming financial year following a multi-agency pitch. The agencies in the fray included JWT, Rediffusion, Saatchi & Saatchi and Mudra.
Since the new management took charge 2 years ago, IndusInd Bank has shown a robust turnaround and emerged as a much stronger Private Sector Bank. Significant changes in the branding and image of the Bank have taken place during the last two years. Now that growth is apace, it will also undertake a major change in its image so as to emerge as a young, energetic and responsive bank.
IndusInd Bank has lined up a slew of branding activities in the coming year as it seeks to capture a greater share of the customers’ mindspace. The Bank is currently on air with its advertising campaign featuring Omi Vaidya and Shruti Seth. Directed by Imtiaz Ali, the 3 Ad series talks about three service propositions of Online Payments, Mobile Alerts and Ready2Use Savings Account kit.
Speaking on the Bank’s brand building plans, Mr. Romesh Sobti, MD & CEO, IndusInd Bank said, “The Bank has focused on its brand building program since last year. This financial year, the branding initiatives will gather momentum and we wanted some fresh thinking on the brand. I’m extremely pleased to announce our association with Ogilvy & Mather and I’m sure they will help us take our brand to newer heights.”
Mr. Piyush Pandey, Chairman, O&M, India said, “We are really excited about working with IndusInd Bank and are all geared up to reposition the brand and do some path-breaking work. It will surely be a challenging task but we are all excited about the new mandate of transforming the Bank’s image into young, dynamic and responsive brand.”
IndusInd Banks plans to spend close to Rs. 40 crore in the coming financial year on advertising and other visibility initiatives.
More From This Section
The incumbent agency handling IndusInd Bank creative duties is RK Swamy BBDO.
About IndusInd Bank
IndusInd Bank, which commenced its operations in 1994, caters to the needs of both Consumer & Corporate customers. It has a robust technology platform supporting multi - channel delivery capabilities. The Bank enjoys a patronage of 2 million customers and has a network of 210 branches and 497ATMs spread over 168 geographical locations in 28 states and union territories across the country. The Bank also has Representative Offices in Dubai and London.
The Bank is driven by the state-of-the-art technology since its inception. It has multi-lateral tie-ups with other banks providing access to more than 21000 ATMs for its customers. It enjoys clearing bank status for both major stock exchanges - BSE and NSE - and three major commodity exchanges in the country - MCX, NCDEX, and NMCE. It also offers DP facilities for stock and commodity segments. The Bank has been bestowed with the mandate of being a Settlement Banker for tea auctions at Kolkata, Siliguri, Coonoor, Coimbatore and Guwahati.
In a pioneering initiative in 'Green Banking' project, the Bank became the first bank in Maharashtra to open a solar-power ATM. Subjects like sustainable development, social responsibility and climate change are fast becoming part of the corporate vocabulary and IndusInd is at the forefront of this change in the Indian banking sector.
The Bank has been awarded the highest P1+ rating for its Fixed Deposits and Certificates of Deposit by CRISIL.
Recently, CRISIL has reaffirmed its P1+ rating of IndusInd Bank's fixed deposits and certificates of deposit program. This reflects significant improvement in its asset quality. The rating also factors in the Bank's resources and earnings profile, and average capitalisation levels.