Tuesday, 4 December 2007

Intercontinental Bank Rebrands

New Identity for the Biggest Bank

By Sebastine Obasi Sunday, November 25, 2007

Intercontinental Bank rebrands itself in line with its vision to play a leading role in the banking industry. Intercontinental Bank PLC is determined to be a major global player in the banking industry. As part of measures to actualise this vision, the bank last week unveiled a new corporate identity tagged, "Good to Great." The new corporate logo has the hexagon as its primary identity icon with dominant colours of blue and yellow.

At the unveiling ceremony, Erastus Akingbola, group chief executive officer of the bank, stated that the hexagon represents the six continents of the world where the bank wants its presence to be felt.According to him, it is in line with the bank's new vision of being number one in Nigeria, number one in Africa and among the world's top 100 banks. "Our new identity represents the stronger and more dominant role the bank now plays in the global banking landscape. This rebranding is orchestrated by a strong drive and commitment to insightful partnership with our customers and other stakeholders," he said. According to Akingbola, the rebranding was underscored by the need to be more visible and bold in reshaping the Intercontinental Bank brand in the eyes of the public.

He further explained that with the rebranding, Intercontinental Bank would raise the bar of customer service, continually delight customers with services and products and consistently guarantee customers' safety and personalised service. "Our promise to the investors is that we are ready to re-enact the impressive performance that has made us to stand out in the banking industry," he said.

He pointed out that the bank believes in creating and sustaining happiness for its customers, hence it is constantly raising its services to meet the needs and expectations of its increasing, discerning customers and other stakeholders. The hexagon, he added symbolises the bank's foremost attributes and strength, which are in the power of its relationship with customers and stakeholders. He highlighted other attributes of the brand as safety, stability, visionary originality and being responsive.

Raymond Obieri, chairman of the bank, said the nation's banking industry was on the threshold of a new revolution, global competition and partnership. This means that in the new dispensation, only the bank that is a compelling brand on a global scale, one with a strong financial muscle and outstanding managerial competence will compete effectively. "Our vision is to enthrone a truly world class and Intercontinental Bank with presence in all the continents of the world," he said, adding, "The new identity will help position the brand in good stead for global competition."

The chairman further explained that the bank has embarked on a bold global expansion strategy that will project it to be a major global bank in the near future. In that regard, Intercontinental is operating a five-brand offshore subsidiary bank in Ghana. It equally plans to open more subsidiary banks in Africa and leading business centers of the world soon. "Our growth is primed at further enhancing our reputation for outstanding financial performance, excellent customer service delivery and leadership of the banking industry," Obieri said.

Intercontinental Bank is one of Nigeria's biggest banks by capital, the fifth biggest bank in Africa and the only Nigerian bank among the world 500 banks. According to the Banker Magazine a subsidiary of Financial Times of London, Intercontinental is the second fastest growing bank in the world currently. It has a shareholders fund of N177 billion, a network of 300 branches and total asset base of N8.18 billion. It started operation in 1989 as Nigerian Intercontinental Merchant Bank.

culled from Newswatch magazine

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