UTI Bank to AXIS Bank: A Corporate Rebranding Exercise

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Case Details:

Case Code : MKTG183
Case Length : 19 Pages
Period : 2006-2007
Pub Date : 2008
Teaching Note :Not Available
Organization : Axis Bank
Industry : Banking
Countries : India

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Please note:

This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

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Excerpts Contd...

Preventing its Customers from Becoming Victims of Fraud

In addition to reassuring the customers that they would be offered the same level of service and professional expertise from the bank, the bank also clearly communicated to the customers that:

"We will not ask for any account details due to the name change to Axis Bank. Do not respond to any such request received through email. Please contact your nearest branch in case you receive any such request."...

Potential Benefits of the Change in Corporate Identity

Though the change in the name of the bank was necessitated due to pressure on the bank to arrive at a decision because of the deadline on the UTI brand name, the company seemed pleased to be developing its own brand. The company felt that adopting the new name would bring definite advantages as the earlier name had a public sector connotation. The UTI Bank had always been a private bank since its inception but it was thought of as a public sector bank linked with the UTI brand...

Outlook

The new Axis Bank was in a sound financial position and had a good portfolio. It had grand plans for the future too. Having raised Rs. 4.5 billion in 2007, Axis Bank would be able to start on a sound footing.

The bank said that it would continue its focus on commercial banking and would also bolster its asset management business. The company planned to open branches in 450 out of the 600 districts in India by 2010...

Exhibits

Exhibit I: A Brief Note on Reforms in the Indian Banking Sector
Exhibit II: Shareholding Pattern
Exhibit III: UTI Bank - A Timeline
Exhibit IV: UTI Bank's Financial Performance
Exhibit V: AXIS Bank: Old and New Logo
Exhibit VI: The Bank's Communication to its Customer
Exhibit VII: Some Print Ads of Axis Bank
Exhibit IX: Screenshot of the Redirect Page
Exhibit X: Frames of the Online Ad in the Bank's Website


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