Launch of Canara Bank’s New Brand Identity
on 29th December, 2007 at Jnana Jyohti Auditorium,
Central College Campus, Palace Road, Bangalore – 560 009
Canara Bank, on Saturday, formally launched a new Brand Identity that represents a significant milestone in the Bank’s history and which is associated with the values which the Bank cherishes. Unveiling the new Brand Identity at a glittering function at the Central College Auditorium in Bangalore today, the Hon’ble Finance Minister Shri. P. Chidambaram extolled the significant role played by the Bank in the growth of the Nation, both in terms of accelerating the pace of growth of the economy and in the area of Corporate Social Responsibilities. He also appreciated the Bank’s forward looking approach and its ability to reorganize itself to cater to the growing needs of the economy.
Explaining the rationale and necessity of the new Brand Identity, Shri.M.B.N Rao, Chairman & Managing Director of the Bank said “in the fiercely competitive financial services industry, it is increasingly becoming imperative, if not mandatory, to rebuild our brand in order to attract and retain customers, who have a wide range of alternatives. We have also to take into account post-2009 scenario, when foreign banks will have access to more organic and inorganic growth”. Mr. Rao hastened to add that the Hon’ble Finance Minister has always been advocating for the Indian Banks to equip themselves to meet the growing competition and that the Standardisation and Unique Brand Identity launched is to be seen in this context as more symbolic of the Brand Building Exercise taken up by the Bank to make it more attractive to the gen- x and to improve the Customer Service Quality.
Touching upon the selection of the colour palette and logo, Mr. Rao said “the rich blue connotes stability, scale and depth. In contrast, the bright yellow depicts optimism, warmth and energy. The Distinctive Brand Identity is based on the idea of a bond and togetherness and is a representation of the close ties between the Bank and its many stakeholders- from customers and employees to its investors, institutions and society at large. The two seamlessly connected links capture the essence of the mutually beneficial partnership. The Bank has adopted customer friendly new tag-line “Together We Can”.
The Bank has taken a number of measures in the recent past to improve their competitiveness like reduction in administrative tiers of the bank to be nearer to the customers, improving the skill levels of the employees through massive training programmes, introducing technology initiatives, sewing up tie-up with HSBC and Robeco to bring the latest financial products in in Insurance and Mutual Fund etc., The Bank was the proud receipient of the “Best Public Sector Bank of India” award for 2005-06 and ” Excellence in MSE Lending” award for 2006-07.
With more than 46,000 employees, a network of 2,640 branches & over 31 million customers and with the newly launched brand building strategy for success, Canara Bank, the largest and finest nationalized bank of the country, has started to equip itself more efficiently and more thoroughly to face the competition and retain its prominent position and further improve upon it.
On this occasion, the Bank felicitated its valued customers, some prominent, some oldest in relationship and a few youngest in age. The new Brand Identity was developed by M/S. Ray + Kesavan WPP.
His Excellency, Shri.Rameshwar Thakkur, Governor of Karnataka congratulated the Bank for its innovative initiatives and services rendered to the Country.