Money, finances and credit

Re-branding of banks: theory and practical experience of Ukraine

Economic Annals-XXI

Economic Annals-XXI: Volume 134, Issue 9-10(2), Pages: 48-51

Citation information:
Tarasov, I. (2013). Re-branding of banks: theory and practical experience of Ukraine. Economic Annals-XXI, 9-10(2), 48-51. https://ea21journal.world/index.php/ea-v134-13/

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Igor Tarasov
Senior Lecturer,
Kharkiv State University of Food Technology and Trade
333 Klochkivska St., Kharkiv, 61051, Ukraine
igor_tarasov@ukr.net

Re-branding of banks: theory and practical experience of Ukraine

Abstract. Introduction: known brand, proof positive image and irreproachable reputation of bank, is an important intangible asset which allows saving clients in conditions of financial shocks. Considerable penetration in the Ukraine banking system of foreign banks which actively use the untwisted brands actualizes theoretical and practical comprehension of the Ukrainian banks brand management conception as an instrument of competitive activity. Purpose: generalization and theoretical comprehension of re-branding in the banking system of Ukraine. Methods: analysis and synthesis, strategic marketing, advertising policy. Results: the definition of banks re-branding is grounded in the article, it constituents, purpose, pre-conditions of realization are determined. The practical experience of re-branding in Ukraine, related mainly to the agreements of confluence and absorption of banks with participation of international financial groups, its forms and methods is generalized. The recommendations are grounded on successful re-branding on the basis of the system approach and communication channels construction with target audiences. Conclusion: successful re-branding must be the system, the change of brand must be accompanied by not only development of bright and expressive brand name style, new logotype and colour gamut but also deep changes of business model. It is important not only to provide recognition of bank but also canalize communication with target audiences, providing loyalty of clients.

Keywords: Re-Branding; Bank, Financial Group; Confluence and Absorption

JEL Classification: G21; M30; M31; M37; M39

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Received 28.08.2013

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