If any, banks can claim that they have done well, let alone posted profits in the last couple of years. While many financial institutions have gone bust or needed a government bailout or a crutch of some sort to keep going, the story at Standard Chartered is quite different.
We were doing well in a sector that was in crisis, so we must have been doing something good.”
That ‘something good’ is what the bank wanted to highlight when it embarked on a search for a campaign and brand promise that would capture its ethos.
There were in-depth interviews with a range of stakeholders, including analysts, customers, clients and frontline staff across the globe as well as with the bank’s management. The objective was to determine what made Standard Chartered different from its competitors, This is the first global positioning campaign by the bank in 40 years and is visible throughout the Africa, Asia and Middle East regions where Standard Chartered is the market leader.
Moreover, the bank has a one year Banking Associate program too which develops front-end officers for retail and commercial banking. Majority of the trainees are recruited from premier business schools. The Bank may have made plenty of loans to government officials for housing, transport and personal expenses a.k.a. daughters weddings but the amount was still miniscule compared to such favours extended by many other banks. Furthermore, the loan recovery rate is very good. Please look around and see that there aren't many international banks left. Standard Chartered Bank on the other hand, is here for good.
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