IDBI has been reshaping its role from a development finance institution to a commercial institution. Accordingly, the bank has roped in Ogilvy & Mather to handle its corporate and product advertising.
IDBI Bank was founded in 1964 with the mandate to aid India’s industrial and infrastructure development. Currently, it rides on a state of the art IT platform to structure and deliver personalised banking services and customised financial solutions to its clients. It has an aggregate balance sheet of Rs 1,30,694 crore as on March 31, 2008.
Abhijit Avasthi, executive creative director, South Asia, Ogilvy & Mather, says, “From being a financial institution helping India’s industrial progress, IDBI wants to move on to being the common man’s bank.”
IDBI Bank has come a long way from being a pure development financial institution. Currently, it offers the full spectrum of financial products and services in the areas of retail, corporate banking, agriculture, small and medium enterprises, and other segments of financial services, including investment banking, life insurance and equity broking segments.
The bank has recently reorganised its business and organisation structure, commensurate with its aspiration to become a Top 5 bank by asset size and market capitalisation by 2012.
Piyush Pandey, executive chairman and national creative director, O&M, said in an official communiqué, “I am extremely delighted that IDBI has chosen O&M as its partner. IDBI is an organisation that has done tremendous service to the nation. I am looking forward to leading a team that creates impactful communication for this wonderful brand.”
The campaign will cover the whole spectrum of advertising. “First on the agenda is the film, which should be ready in two weeks’ time,” says Avasthi.