The IDBI transition continues as the financial institution comes up with yet another brand makeover, successfully depicting the changeover in a new-look corporate logo for the deemed banking corporation, IDBI Ltd. The group unveiled the logo to a large media gathering in Mumbai on Monday.
Presenting the new logo comprising a symbol and a logotype in horizontal style, M Damodaran, Chairman, IDBI Ltd, said since the bank had adopted a new business model effective October 1, it was imperative that a new look be devised to reflect this change.
“The ‘Bigger, Stronger, Faster,’ tag that IDBI Ltd has now acquired, encapsulates the very essence of the business direction the bank intends to take in the months to come,” said Damodaran.
Stressing on the 40-year-old rich heritage that IDBI as a financial institution, was rooted to, Damodaran simultaneously espoused the need to be in sync with the modern time. “You can see the continuity as visible in the glorious achievements of the past, now moving into the very contemporary domain of a resurgent India,” he said, calling the transition as a rationale that was a “must” in today’s business environment.
Dwelling on the new-look logo, he explained that the teal green backdrop in the logo conveyed the pro-active role essayed by IDBI, a major financial institution of the country in the realm of industry, for furthering broad-based and sustained economic development and prosperity. “It is also the colour of the money – a pointer to the financial sector where IDBI operates in,” Damodaran added.
As he put it, the international typeface chosen for the corporate symbol embodied all the attributes that have had characterised IDBI throughout its four-decade-long existence and the orange flower reflected dynamism and individual well-being. “The petals are spread open to express both the spirit of giving as well as of embracing and welcoming millions more to our current investor population of four million,” he said.
“The new logo framed in the box seamlessly integrates the orange flower and the typeface, thus conveying IDBI’s ability and commitment to vigorously carry forward the legacy and also present a new world of opportunities and create sustainable value for all its stakeholders,” added Damodaran.