Kerala-based Dhanalakshmi Bank has announced its new corporate identity, as the private sector bank gets ready to go national.
With a more contemporary look, the new logo is purple in colour, which, the bank claims, signifies wealth and prosperity. The 82-year-old bank has also decided to change the spelling of its name to 'Dhanlaxmi', in a bid to appeal to the youth.
Speaking to afaqs!, Sheran Mehra, head, marketing and corporate communication, Dhanlaxmi Bank, says, "As we go national, we had to break the regional barrier, appeal to the youth, and at the same time, not appear fuddy-duddy."
"We retained the image of the goddess in the logo, because there is a lot of heritage to the name. The new identity is aligned to the attitudinal position of today's youth - modern, yet rooted in tradition," she adds.
Mehra says that the spelling of the bank's name was changed after a research conducted across India, which found that people preferred the "shorter and crisper" version.
Ogilvy India is the creative agency appointed for the upcoming campaign, which is expected to be launched around April. The bank chose to launch its advertising campaign at a later date, in order to internalise the identity change.
"The employees will take the brand forward and build a connect, and must soak in the new identity. That will take some time," Mehra says.
The bank has also ventured into new areas of financial services, such as investment banking. It will soon launch mutual funds and venture capital businesses.