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Bank of India finalises five creative agencies; ad spends Rs 20 cr

01-June-2005
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Bank of India finalises five creative agencies; ad spends Rs 20 cr

Bank of India has decided its advertising agencies to provide total solutions for its corporate and financial advertising services. The financial major has empanelled Pressman, Madison Creative, Mudra, Image and Interpub for the same. The account is pegged at Rs 20 crore.

All agencies have received their empanelment letters. The tender was floated almost two months back. The services that the bank was looking for included areas like publicity through print and electronic media, public relations and outdoor advertising. In the present state of affairs, this is the only action that has been taken in regards to the pitch.

The bank officials were not available for comments. The agencies however are jubilant. Prabha Prabhu, Executive Director, Madison Communications, said, “We are delighted to be empanelled for the Rs 20 crore BOI account. Financial sector today is a very exciting segment. It needs to be treated as consumer brand and we are looking forward to working on the account.”

Among a few essentials quoted by the bank in a formal proposal for an agency to apply, pointers like accreditation with INS, AIR and Doordarshan, requisite of minimum experience of five years in the field of publicity and public relations, of which at least two years are in public sector undertakings are included.

Bank of India was founded on September 7, 1906. The bank was under private ownership and control till July 1969 when it was nationalised along with 13 other banks. Beginning with one office in Mumbai, with a paid-up capital of Rs 50 lakh, the bank has made a grown over the years with a strong national presence and sizable international operations.

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