Africa’s economy is inherently a goldmine of potential for growth and expand in borders and international relations to encourage a wider basin of trade and commerce. As fate would have it,The economy of Africa is on the rise and is expected to increase by 6% in 2015. Standing at the forefront of the continent’s wealth are the megalith banks brands which have rooted the foundation of Africa’s monetary prospects. Banking brands have a unique relationship with their customers as they try to balance the need for representing trustworthy and confident brand attributes that encourage consumers’ savings to be placed in their hands while also trying to promote innovation through new solutions such as mobile banking, electronic currencies and eCommerce. While many appeal to consumers through localized branding and marketing campaigns, the successful entry by global banking brands in local markets has caused some brands to adopt a more worldly and polished communication and branding strategy. Below are some of the largest banking brands in Africa along with their logos and links to a few marketing campaigns:
THE STANDARD BANK BRAND
Taking the lead in net wealth and popularity of any african brand is Standard Bank. The brand has an impressive presence in over 17 African countries including Ghana and Nigeria. Standard Bank’s roots lie in the Eastern Cape of South Africa around 1862. During the early 19’th century the bank financially aided the development of gold and diamond fields in South Africa. The first branch opened in Johannesburg and today employs over 53,000 people internationally. It’s brand communication is of a highly engaging calibre and speaks about their latest offerings whilst retaining the brand’s appeal. Most of the recent marketing positioning have focused on a “pan-african” push, using the tagline “They call it Africa. We call it home.”. The standard banks iconic blue and white are widely recognized, although perhaps not as colorful and local as one of their competitors FNB.
THE ZENITH BANK BRAND
Zenith Bank Plc is arguably the largest bank in Nigeria by market share, falling second place to First Bank in the wealth department. A powerhouse of Nigerian commerce and investment, the bank brand was founded in 1990 and today holds accounts with over 1.6 million entities, including a broad reach into oil, real estate, commodities, infrastructure, transport and entertainment. Technology is at the core of the brand’s business strategy, which is promoted through their marketing strategy. Although their success is reflected with their impressive assets under management and strong legacy as Nigeria’s banking brand, the logo’s color scheme seems to not fit naturally with their online website and communications.
THE NATIONAL BANK OF EGYPT BRAND
The National Bank of Egypt is undoubtedly accredited with the largest customer base in the Egyptian market. Accounting for more than 74% of credit card holders and over 40% share of the debit card market, the Northern African brand can boast a big slice of Egyptian expenditure. The brand has grown in the last couple of years with offices popping up in Shanghai and New York. In the asset department, the NBE places third in the battle for the highest net worth for any Arabic bank. Although the majority of its branding may appear corporate, reputable and confident, they have been known to incorporate humour in their video ads.
STANDARD CHARTERED BANK BRAND
Standard Chartered Bank Botswana is a worthy contender in the field of popular branding and customer engagement. At the core of their branding techniques lies their trustworthy nature in addition to the systemic approach to authentic and sustainable customer relationships. Fully equipped the latest digital platforms to ensure a smooth process of internet banking, the brand has allowed itself to expand into other financial projects and has incorporated a list of insurance offerings, hospital plans and live cover.
Ecobank, headquartered in the Togolese capital of Lomé, serves as the largest independent banking group in West Africa. The Pan-Africanism culture has helped them to gain a mass influx of appeal in a wide basin of Africans and the banks subsidiaries reach into the UK as well as South Africa. Ecobank’s popularity is defined by their appreciation of borderless trade and commerce throughout Africa. For insightful feedback and marketing information of a specific African banking brand, get in touch with Springleap here: http://www.springleap.com/contact/ Contributed by Cameron Smith.