Bank of India zeroes in on Group M’s Motivator

Bank of India has finally decided on a media agency, Group M’s Motivator. The other agencies in the fray were Madison Media, Lodestar and one of the Lintas Media Group agencies. The size of the business is upwards of Rs 25 crore.

A source close to the situation confirmed this to agencyfaqs! When asked why Motivator was chosen above the others, the source replied candidly, “Apparently, Motivator offered Bank of India the best rates.”

As reported by agencyfaqs! last week, Bank of India had finalised O&M and Rediffusion DY&R Financial Solutions to handle its creative duties; the four creative and media incumbents – Madison Creative, Mudra, Interpublicity and Imageads – were retained to handle special projects.

However, the bank was still not clear on which products to assign to which agency. Apparently, that decision has been made now. O&M will handle Bank of India corporate, technology and brand building communication, while Rediffusion DY&R Financial Solutions will look after the retail banking part of the business. This development ensures that O&M, which handles the advertising for State Bank of India’s retail banking, is not faced with any conflicting business.

In addition, rumours about Meridian (O&M’s second agency) handling Bank of India have also been put to rest.

Meanwhile, the four incumbents that have been retained will take care of special projects in the areas of SMEs, deposit products, car products, remittance products and statutory ads, among others.

For the record, Bank of India was founded in1906 by a group of businessmen from Mumbai. The bank was under private ownership and control till July 1969, when it was nationalised along with 13 other banks.

© 2006 agencyfaqs!