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Problem The bank was 100 years old, seen as solid but stodgy in the light of larger, more aggressive, and technologically sophisticated competitors. The new ownership wanted to reposition the bank to make it an attractive merger target for a larger company seeking to expand its market penetration.
Solution Market research showed that the name and 100 years of experience were viewed as a strong positive. So Neri Design Group created a new emblem incorporating the date of founding and the initials "BC" in a bold new, strong, visual signature. This was carried throughout all bank communications (and a design manual was prepared to control its use).
Result Further market research showed that the new design program began shifting the image of the bank toward "modern, progressive, dynamic" while maintaining the strength of its heritage. Banco Caracas was subsequently purchased by a large multinational Spanish banking organization shortly thereafter at a significant premium to its then current share price.
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