Saturday, January 25, 2014

Rebranding and Renaming of Noor Bank

Rebranding and Renaming of Noor Bank

Noor Islamic Bank- One of the leading Bank of UAE has dropped the word Islamic from its name and rebranded itself as Noor Bank, however it remains an Islamic bank by Values & Sharia Nature.

Removing Islamic Word was a great move by Noor Bank, As Noor is an Arabic Word which means light, Noor also means Islamic Values & Way of life. So removal of Islamic word does not give any negative effect.

“Noor Bank (formerly Noor Islamic Bank) was established in January 2008, in Dubai — United Arab Emirates.

In a short period of time, Noor Bank has grown considerably, and now provides a comprehensive range of products and services — in consumer and corporate banking, wealth management, insurance, treasury and trading.

Usually it takes 8 to 10 years for a Brand to ReBrand, But i case of Noor Bank i think the Management took the Right Move.

"New Slogan - NOOR GETS IT DONE" - Adds value by giving a attitude of getting things done

My Comments - I personally like the Simplified look in Logo, Slogan shouting & telling the World that Bank is Strong & Safe for looking after your money.

Tuesday, January 21, 2014

Top ten reasons for Re-branding

Top ten reasons for Re-branding

On average, organisations and brands change their corporate identities once every seven to ten years. This often involves restyling logos, colour palettes, visual language and the photographic style. In a small number of cases, the name of the organisation is also changed during this process. Although there is usually one main reason for making the change, the motivation behind a rebranding project is often a combination of several factors.

Ten most common reasons for a rebranding.

1. Mergers, acquisitions and demergers

2. Repositioning

3. Internationalisation

4. Changing markets

5. Bad reputation

6. Conflict with stakeholders

7. New CEO

8. Outdated image

9. Changing brand portfolio

10. Further development of corporate identity

The picture displays how few companies have Re-branded their logos