Ukrainian member of Italy’s Intesa Sanpaolo banking group is engaged in ongoing upgrade process with comprehensive rebranding.
PRAVEX BANK is currently at the next stage of bringing its visuality to the standards of European banking group Intesa Sanpaolo which is the only shareholder of the bank. This ambitious rebranding process, which began with the unveiling of a new visual identity for PRAVEX BANK in late 2017, aims to bring to the Ukrainian market the full range of banking products on offer to PRAVEX’s Ukrainian customers. It is the latest chapter in a relationship between PRAVEX BANK and Intesa Sanpaolo that dates back ten years to the Ukrainian bank’s acquisition by the leading Italian banking group in 2008.
Leading Euro Zone Banking Group
Intesa Sanpaolo entered one of the biggest international markets in Ukraine at a time when the country’s banking sector was rated by many as being arguably the most attractive prospect in Europe. With the Ukrainian banking sector once more gaining momentum following far-reaching reforms since 2014, efforts have recently been stepped up to strengthen PRAVEX BANK’s corporate identity as part of the Intesa Sanpaolo banking group and enhance the services the bank is able to offer in Ukraine.
Intesa Sanpaolo is ranked among the top banking groups in the euro zone and enjoys in Italy a position as market leader in all business sectors (retail, corporate, and wealth management), boasting 12 million customers serviced through a network of over 4,600 branches distributed throughout the country.
Internationally, Intesa Sanpaolo has a considerable strategic presence with approximately 1,100 branches and 7.7 million customers, including subsidiaries operating in the commercial banking sectors of 12 countries spread throughout Central and Eastern Europe, the Middle East, and North Africa. The bank also maintains an international network of specialists in support of corporate customers across 25 countries, in particular in the Middle East, North Africa, and in those areas where Italian companies are most active, such as the United States, Brazil, Russia, India and China.
PRAVEX BANK went public with its comprehensive rebranding as part of what the bank dubbed as a “preparation year” ahead of this year’s comprehensive upgrades. The new-look branding adopted by PRAVEX mirrors the Intesa Sanpaolo logo itself, reflecting the growing integration of the Ukrainian bank into the Italian banking group. In a nod to classical Rome, the new PRAVEX BANK logo features the Trajan font found at the base of Trajan’s Column, while also containing a stylized depiction of a Roman aqueduct, which bank officials identify as a universal symbol of permanence and development as well as life and prosperity.
The visual changes taking place at the bank extend far beyond this classically-influenced new logo. Individual branches have also undergone major makeovers that have sought to reinvent interiors while incorporating the sense of style that Italy is renowned for. Indeed, the layout of PRAVEX BANK branches now reflects the vision of Italian designers who have embraced the creation of what bank officials refer to as “comfort zones”. There is a decidedly Italian flavor to décor featuring iconic images of Italian landmarks, while the use of soft pastel colors and deployment of open spaces offers echoes of Mediterranean vibrancy.
Emphasis on Retail Lending
The current upgrade process is not restricted to the aesthetics of PRAVEX BANK’s branches themselves. When the new look of the bank was first showcased in autumn 2017, the talk was of a redesign of the bank’s business model with the retail banking segment set to be the focus for the biggest improvements. Retail lending is now positioned to play an ever more prominent role in the bank’s business development strategy, with priority areas including credit cards and personal loans already identified. Given the broad trends currently evident in the Ukrainian economy, this looks like a smart bet. PRAVEX BANK’s strategy expects to see additional lending products added to the bank’s catalogue of services in the near future as the expansion into the retail banking segment gains momentum.
With the emphasis on enhancing service levels and broadening engagement with customers, PRAVEX BANK is also looking to develop its FAMIGLIA product. This includes a range of services and additional benefits for customers and their families including more traditional banking sector offers like cards and current accounts along with innovations such as insurance, concierge services and discounted access to safety deposit boxes.
Meanwhile, the PRAVEX BANK corporate business strategy is set to benefit from greater synergy with Intesa Sanpaolo via a growing emphasis on providing services for the banking group’s considerable existing international clientele in the corporate and investment banking spheres. Multinational corporations are to be a core target group for the bank’s corporate business development, where they will be joined by selected domestic blue chip companies and financial institutions.
PRAVEX BANK’s strategy also aims to build on its reputation for cultural sector engagement. PRAVEX has regularly hosted friends and partners of the bank in recent years at a range of sponsored corporate events at Ukraine’s National Opera House in downtown Kyiv. This trend will receive added impetus going forward as the Ukrainian bank embraces the associations with cultural heritage that play such a big part in the corporate philosophy of PRAVEX’s Italian parent banking group.
This support for the cultural life of Ukraine is seen by bank officials as a way to engage with a growing clientele while at the same time helping to safeguard Ukraine’s cultural heritage. Given the strong public associations between Italy and culture, it also offers opportunities to underline PRAVEX BANK’s status as part of the Intesa Sanpaolo banking group.
(c) Business Ukraine magazine, Banknews