Bank of India is currently reviewing its media duties. A tender was floated by the bank in September. The size of the business couldn’t be ascertained but industry sources peg the account in the vicinity of Rs 35-40 crore.
Currently the empanelled agencies that handle the media mandate for Bank of India include Motivator, Percept Media, Starcom Worldwide and Concept.
An official from Bank of India has confirmed the development. It is understood that most of the leading media agencies have submitted the tenders for the business. According to the official the decision should be taken in a period of 10 days. The selected agencies will be empanelled for two years.
However there will be no change in the creative mandate. Ogilvy India and Rediffusion Y&R will continue to handle the creative business for Bank of India.
For the record, Bank of India was founded in1906 by a group of businessmen from Mumbai. The bank was under private ownership and control till July 1969, when it was nationalised along with 13 other banks.