‘Large federal banking networks normally merge and launch a re-branding campaign in order to become more easily recognized. This brand recognition determines the ‘penetration level’ essential to the market competition. Another reason to opt for re-branding is getting ready for a public offering of the bank’s shares,’ reports the General Director of Blagodat Securities Investment Company Vsevolod Chaschin on the re-branding campaigns by some Russian banks.

When they do re-branding, the banks hope to hit a particular target audience, a group of clients who reflect the new bank’s strategy. Times change, so do generations, and banks have to take this into consideration and be flexible,’ Mr Chaschin said.

‘A new image is very good for businesses as it enhances their importance, helps them to employ new ways of promoting their services, and attract new groups of clients,’ he noted.