The IDBI Group, which comprises of IDBI Bank, the mutual funds division, and IDBI Capital Market Services, has retained Ogilvy India as its creative agency. The agency was retained following a multi-agency pitch and witnessed participation from some of the major agencies including Grey, JWT and many more. The overall size of the business is estimated to be more than Rs 65 crore.
Ogilvy had earlier bagged the creative duties for the business in August, 2008. In November, 2008, a campaign was launched, designed by the agency to give a facelift to the bank. Furthermore, Adfactors Advertising had won the duties to handle the creative services for select product communications, through a multi-agency pitch held early this year.
In July, the banking and financial services group had retained Maxus as its media agency of record (AoR). Maxus continues to handle the duties for television, print and radio. Mudra Max was appointed as its media planning and buying agency for out of home (OOH) and below-the-line (BTL) businesses. Earlier, afaqs! had reported that this was the first time that the group had called for an official pitch for its media duties.
In March this year, the group had floated a tender to hire three agencies for each category - one agency to take care of creative services for the IDBI Group brand and its select product communications, the second agency to provide creative services for select product communications, and the third agency to provide services to the group for statutory ads and product ads.
For the record, the IDBI Group includes IDBI Bank, IDBI Capital Management Services, IDBI Intech, and IDBI Assets Management.