Equatorial Commercial Bank (ECB) conducted a Rights Issue at the end of February, 2013 to shore-up its minimum capital requirements to meet the new Central Bank of Kenya (CBK) threshold. The rights issue was carried out through existing shareholders. The bank was named as one of the banks not fully compliant with CBK’s regulations as at the end of 2012. However the bank was already compliant at the time of the mention by the media, negatively impacting the bank’s corporate reputation. In addition the issue with strategic investors coming on board has extended over time. CBK gave a directive for all banks to be compliant by 1st March, 2013.
Brand Strategy
Following ECB’s acquisition of Southern Credit Bank, the brand needed to redefine its meaning to its audiences.
The agency was tasked with developing a positioning that defined the brand’s tone, character and meaning.
This was to be supported by a communications strategy as well as deliberate efforts towards aligning internal teams to the common vision, goal and brand position
Creative Development & Advertising
ONE BRAND ONE VOICE.
Following ECB’s acquisition of Southern Credit Bank, the brand needed to redefine its meaning to its audiences. The agency was tasked with developing a positioning that defined the brand’s tone, character and meaning. This was to be supported
by a communications strategy as well as deliberate efforts towards aligning internal teams to the common vision, goal and brand position
Strategic Commuication
Pre-Recapitalization
Goal : Create awareness of the new brand and values
Brief: Credibly profile Equatorial Commercial Bank through the rights issue process and showcase the bank as compliant with CBK’s regulations while promoting the bank’s strategic future plans, and manage positive corporate communication. Further, tactically address issues from previous lapsed strategic investors to manage any perception gaps that may arise.
Strategy
- Development of an integrated communication strategy: The strategy included an integrated approach strategic communications and stakeholder engagement.
- Conceptualization and implementation of internal communications strategy: The purpose of the strategy was to drive employee understanding and confidence in the bank.
- Focused media management: This is geared towards building and sustaining relationships with editors and writers from key media houses drawn from: Print, TV, Radio and online at a local, regional, pan-African and international level. Media engagement strategies: High level editorial engagements, Opinion editorials and thought pieces, Continuous media briefing.
- Content development for media: Avid PR developed content to share with the media that resonated with the key messages to be communicated. These include: Press releases, opinion pieces, frequently asked questions (FAQ), fact sheets and background notes.
- Proactive media profiling: This entails continuously identifying media opportunities to profile ECB as a brand and its executive. Specifically during the management change period using: Features: TV and Radio, Commentary and thought leadership and Profiling.
Impact Generated
- Avid PR sustained a positive image of the bank during the uncertainty of the recapitalization period; today the bank continues to enjoy positive coverage.
- Increased employee understanding and confidence in the bank.
- Resorted confidence in the Bank by stakeholders especially customers and investors.
Employee Engadgment
Following ECB’s acquisition of Southern Credit organization, the brand needed to redefine its meaning to its audiences.
The agency was tasked with developing a positioning that defined the brand’s tone, character and meaning.
This was to be supported by a communications strategy as well as deliberate efforts towards aligning internal teams to the common vision, goal and brand position
