YES Bank brand makeover: Spending on advertising activities to surge 30%

With a refreshed brand identity, private sector lender YES Bank will increase spending on advertising activities by 30 per cent in the current financial year (FY24) to enhance visibility.

Nipun Kaushal, chief marketing officer (CMO), said the bank was resorting to “tactical” spending in advertising for the last two years during festive seasons and campaigns.

Its spending would be 30 per cent higher in FY24abhi over the previous year. He, however, did not share details on expenditure in FY23 and plans in FY24.

The lender was focused on getting its house in order after it was bailed out by peers led by State Bank of India (SBI) in 2020.

Kaushal said the marketing campaign, which it is embarking on from June 20 with a “long tail” of digital advertising efforts, is designed keeping in mind the current situation for the bank.

The bank launched a tweak in its logo.

Chief executive officer (CEO) and managing director (MD) Prashant Kumar said it was the lender’s strong character that helped it overcome multiple challenges in the recent past.

The revitalised identity with tagline ‘Life Ko Banao Rich’ extends across all customer touchpoints, such as the bank’s headquarters, branches, products, digital platforms and communication materials. The campaign will be promoted across social and digital media, OTT networks and television.