This year on Vishu, the New Year for Malayalees, many employees of the Kerala-based Federal Bank were more than willing to work on this State holiday. The major reason for the employees was to be part of the excitement in selling tickets for their new home team, the Kochi Tuskers Kerala (KTK).
If you thought banking was all about efficient customer service and branding was more for products such as colas, mobiles, chips, consumer durables and cosmetics, think again.
Although banks have been endorsed by celebrities such as Amitabh Bachchan and Shah Rukh Khan, Federal Bank is the first bank to sponsor an IPL team.
Four years ago, Indian banks started their branding exercises by roping in celebrities, mostly movie stars. . Initially Bachchan was the brand ambassador for ICICI Bank, and later it was SRK. Yesteryear dream girl Hema Malini endorsed Bank of Rajasthan and actress Juhi Chawla Dena Bank.
Three-time national award winner actor Mammootty was roped in by South Indian Bank. Only Bank of Baroda partnered with the then cricket captain Rahul Dravid.
Men in Orange
Whenever the men in orange win, the mobile phone inbox of Mr Shyam Srinivasan, Managing Director of Federal Bank, fills with congratulatory messages from abroad. Federal Bank enjoys a large customer base with NRIs who form close to one-fourth of its 40 lakh customers.
Mr Srinivasan says the motivation to back Kochi Tuskers Kerala is that they share the same synergies both in terms of geographical roots and global aspirations.
IPL has a large audience and by sponsoring it Federal Bank “would not only create an image for our existing customers but also get national visibility,” he says.
. The IPL connect has not only helped the bank customers but also Federal employees “who share equal amounts of anxiety and excitement for the team to win.”
As principal sponsor, the Federal Bank brand is emblazoned on the team jersey and caps as well as around and stadium. More importantly the bank gets the players to endorse its products.
The bank is sponsoring the new team from God's own country for pure commercial reasons, he says.
Mr Srinivasan says the bank is spending ‘sizable' money on sponsoring KTK but declined to mention the amount.