duties for Indian Bank, which were under review, have been bagged by Euro RSCG and MPG. While Euro RSCG will handle the creative duties, MPG will be responsible for the media duties. For the record, Euro RSCG and MPG are both part of the Havas Group.
The Indian Bank business is estimated to be worth Rs 15 crore and, as per sources close to the development, four other agencies were in the fray for it - O&M, FCB-Ulka, Mudra and Imageads. The pitch for the business was held in April 2006 in Chennai.
A source says to agencyfaqs!, "Indian Bank has not advertised extensively since a long time. A local agency was handling sporadic work for it. But now, the bank has felt the need to rope in a full-time creative and media agency to handle its business."
It is learnt through an industry source that around 10 agencies were invited for the pitch process, out of which only the five mentioned here actually made a pitch. Out of these, three are believed to have been short-listed before, finally, MPG and Euro RSCG were finalised.
According to industry sources, the client liked the ideas and strategy of Euro RSCG and MPG, which is why they were chosen. Indian Bank will now position itself as a premium bank. In 2007, the bank will celebrate its 100th anniversary and this will be highlighted in its communication. The media mix for the campaign is likely to include television, press, radio, outdoor, events and below-the-line activities.
For the record, Indian Bank has more than 1,403 branches all over India. It also has overseas branches in Singapore and Colombo (including a foreign currency banking unit in Colombo). In addition, it has 229 overseas correspondent banks in 69 countries.
© 2006 agencyfaqs!