Dhanalakshmi Bank, an old generation bank headquartered in Thrissur, Kerala, has called for a creative pitch. In all, it is believed that four agencies have made their presentations – Ogilvy & Mather India, Rediffusion Y&R, Lowe Lintas and McCann Erickson. Though the account size couldn’t be ascertained, it is said to be substantial.
No official comments were available at the time of filing this report.
The prime reason for the creative pitch is to be believed to be the Bank’s plans to go national in a big way. As per some media reports, the Bank has drawn up an ambitious expansion plan to become one of the five leading private sector banks in the country by 2014.
In March 2009, Dhanalakshmi Bank had sought the Reserve Bank of India’s permission to open 80 new branches in different parts of the country as part of its national expansion plans. Sixty-seven of these branches would be outside Kerala.
Also, very recently, the Bank joined hands with Bajaj Allianz. Through this new alliance, the Bank, which has been present in the country for over 80 years, will make available a co-branded product, ‘Dhanam Suraksha’, in addition to the wide range of Bajaj Allianz insurance products and services like motor insurance, health insurance, home insurance, and life insurance to its customers.