Terracotta red, indigo blue and yellow ochre. Colours, not really associated
with a financial institution, right? IndusInd Bank begs to differ.
Its new logo, that was unveiled on Thursday, uses such vibrant colours in a bid to "establish a connect with the retail consumer," says Atul Hegde, vice president, Vyas Giannetti Creative (VGC), the agency behind the new swanky look. The design of the logo, however, remains the same
Hegde defends the rather unconventional choice of colours. "Banks are no longer the
boring financial institutions they once used to be. Today, they are in competition not only with each other, but also with other FMCG brands for consumer mindspace. And, that's where these warm and lively hues come in."
The bank and the agency are clearly hoping that the rather unusual choice of colours will generate consumer interest. "After an extensive research, we chose these colours that convey trust, efficiency and care, properties that the bank would like to be associated with," Hegde explains.
The new get-up comes close on the heels of the bank's merger with the erstwhile Ashok Leyland Finance, and its focus to become an independent retailer, points out Bhaskar Ghose, managing director, IndusInd Bank. "We are the same bank. We just look different," Ghose says.
Preeti Vyas Giannetti, chairperson and executive creative director, VGC, says, whenever a corporate such IndusInd Bank goes for a brand makeover, it generates a lot of curiosity among the consumers. "One shouldn't read this as a sign of desperation on the company's part. This is simply a bid to draw the consumer's attention to the new and exciting things that the bank has to offer."
IndusInd Bank, set up in 1994, boasts of a net worth of Rs 800.42 crore as of March 31, 2004. Ever since its merger with Ashok Leyland Finance in June this year, it has aggressively moved into retail banking, and promises to introduce some "innovative" products and properties in the near future.
© 2004 agencyfaqs!