Joining in with other financial players on the lookout for new agencies, State Bank of India is also in the process of finalising its advertising partner. Even as a clear indication on the ad spends couldn't be obtained, industry sources peg the account in the Rs 25-30 crore region.
SBI officials confirm that the first round of presentations has been completed. However, they refrained from commenting whether the banking major will zero in on an agency from this shortlist of agencies or invite a second round of presentations. The officials however informed that they are open to multiple agencies handling the business. More action on this account is expected this week.
SBI's agency scouting comes close on the heels of IDBI and Bank of India looking for ad agencies. A result on IDBI is expected next week. However, as far as Bank of India is concerned, presentations have still to be made.