Advertising spends in the banking services and product categories has increased by 184.15 per cent in the calendar year January to December, 2008 to Rs 2,492.59 crore as compared to Rs 1,499.92 crore in 2007, according to data from AdEx Nielsen. Public sector banks like State Bank of India (SBI), Union Bank of India (UBI), Bank of Baroda, Axis Bank and IDBI Bank have seen an upsurge in their advertising spends upto 75 per cent. SBI has been the highest spender among banks spending Rs 292.92 crore in 2008.
"Both PSU banks and private sector banks with strong Indian lineage have by and large remained unscathed during slowdown. Consumers too will choose conservative safety over bells and whistles. The reason PSU banks will spend much higher in the last quarter of this fiscal." says Satbir Singh, chief creative officer, Euro RSCG India. UBI's new 'Good People To Bank With' campaign totaled Rs 127.45 crore in 2008 as compared to its spends of Rs 13.13 crore in 2007. IDBI spent Rs 52.68 crore as compared to Rs 15.14 crore in 2007.
The quarter of October to December 2008 has seen an increase of 52.03 per cent in media spends by over 300 banks and financial institution in India as compared to same period previous year with a spent of Rs 714.34 crore as compared to Rs 469.86 crore in October to December 2007. Among the private banks, ICICI Bank has been the largest spender with a total spend of Rs 129.02 crore in 2008. HDFC Bank spent Rs 18.83 crore in calendar 2008 as against Rs 80 lakh spent in 2007. Royal Bank of Scotland (RBS)'s advertising spends have raised from zero to Rs 17.47 crore in 2008.
A Televisionpoint.com news
Friday, March 27, 2009
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