rom the outside, the State Bank of India's headquarters at Mumbai's Nariman Point looks the same as ever. However, within the muted confines of the 18th floor where the top management resides, there is a sense of anticipation. The State Bank of India's latest ad campaign, 'Surprisingly SBI', has people talking about the brand and the bank, shrugging aside its sleepy past, has begun its journey to connect with the younger India.
Like many public sector-owned companies in dominating or market situations, it took the bank a long time to fully acknowledge the new competition. Is it too late, then?
"Though we should have ideally started two years ago, it's not too late, not at all," affirms Ashok Kini, managing director, SBI. He explains, "See, if you are a 200-year-old organisation, you have a feeling of always being in the business. On the other hand if you are a five-year-old bank, you have a fresh slate to start with. So you define and package yourself in a contemporary way. Given the scale of our reach and availability, the consumer presents a hazy picture for us. They are from all occupations, across all categories, classes and regions."... more