| CEC Bank
2009 REBRAND 100 Winners > merit
Industry/Sector: Financial Services
Enterprise Rebrand
Country Base: Romania
Below: Before Images, Rebrand Images, Summary
Summary:
Industry Setting - CEC (an acronym for The Savings House), established in 1864, is Romania’s oldest bank. After 1990, under strong competition and tentative management, CEC’s market status gradually eroded, its high awareness deformed by the perception of not being an actual “bank” but rather a mere Savings House. After a failed attempt by the Romanian government to sell the financial institution, a prominent banker has been appointed as President in 2007 and made corporate revitalization a priority on his agenda.
Challenge - The brand audit revealed one major reason for CEC’s eroding competitive position was the denial of its own history and reputation. This hidden, true identity should be used as an engine of corporate revival.
Strategy - Consultant’s advice to add “Bank” to the old name, to counteract the “non-bank” perception, proved to be an augural act. The new graphic identity places CEC Bank equally in the line of tradition and revival, conveying also the category status. An old national symbol, the oak leaf, stands out through design in the new shield logo, as if it were there for ages. The organic and familiar Romanian brand finally measures up to its history, reputation and future.
Result - Internal stakeholders (including labor unions) responded amazingly well to the new identity, which became instantly an organizational cohesion factor and an agent of change. The rebrand launch marked a true revival for the corporation and a giant step for state-owned institutions, also setting a salient example for similar post-Communist institutions in Eastern Europe. Preliminary financials show a tremendous growth for business in rebranded branches.
Credits:
Client: CEC Bank - www.cec.ro
Brand Strategists/Designers: Brandient - www.brandient.com
Strategy: Aneta Bogdan
Creative Director: Cristian "Kit" Paul
Designers: Cristian "Kit" Paul, Bogdan Dumitrache, Cristian Petre, Alin Tamasan, Iancu Barbarasa, Eugen Erhan
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