Tuesday, 25 December 2012

Why Diamond Bank is Rebranding

By Daniel Obi 

Diamond Bank Plc New logo
DiamondfBNew logo
In a competitive environment, all weapons are employed by players to have an edge. After 21 years of operation, Diamond Bank, perhaps with deep consumer insights, is strongly strategising to consolidate its leadership position in the retail market as it has introduced a new identity logo.
The new corporate identity, which has four colours – green, blue, red and orange – but retains the same shape with the old logo, is, according to the bank management, a plan by the bank to be more visible in the marketplace.
“Our new identity would equally help us consolidate on our current market leadership in the retail banking segment. Going by the nature of this market segment, there is need to remain visible both in the local and global marketplace,” Alex Otti, the bank’s CEO, said while unveiling the logo in Lagos.
He further said that the new logo reflects the bright and optimistic colours of the Diamond spectrum representing vibrancy, prosperity and growth. “Our look has changed, but our commitment to innovation, excellence and to customers remains as strong as ever.”
Otti added that the rebranding was the bank’s unfolding strategy to be the best bank in the next five years, saying: “Managers of the brand believe that as the bank moves from a quasi-conservative bank to a more active player in the banking industry, the rebranding exercise would provide an added momentum for the upward trajectory that the bank had embarked upon and enhance its performance.”
Ayona Aguele-Trimnell, head, Corporate Communications, said: “What we have done with our corporate identity is to refresh elements of our brand look and feel to identify with our growing customer base and usher in a period of renewed focus and commitment to our business. Our colours reflect the bright optimistic colours of the Diamond spectrum using green as a base colour with complimentary colours of red, orange and blue.
“For us, the green symbolises growth, red stands for vibrancy, orange illustrates ‘passion’ of our people, and the blue symbolises our commitment to innovation in our products and services. These colours also bring us closer to our customers by making us more visible and accessible in the marketplace as the bank consolidates its leadership in the retail banking segment.
“Our new visual identity re-affirms our commitment to delivering improved profitability and growth for all stakeholders as well as providing our customers with innovative products and services to meet their banking needs. We are a bank that partners with our customers and support them in the achievement of their goals.”
The bank, which already has 230 branches, also plans to increase its brand network by 30 in the new year. In the next 2-3 years, it wants to hit over 300 branches

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