The Shamrao Vithal Co-operative Bank Ltd adopts a new and fresh logo’
~ New logo reflects a crisper and sharper image, inspires growth ~
Mumbai, June, 2014: SVC Bank (The Shamrao Vithal Co-operative Bank Ltd), India’s one of the top 3 leading multi state scheduled bank today announced a change in its brand logo. This change reflects the bank’s vision for future expansion of the business which includes reinforcing its position as one of India’s leading co-operatives.
Commenting on this, Mr. Suresh Hemmady, Chairman, SVC Bank said “We are extremely optimistic and confident that we are equipped to meet new challenges for business expansion and growth. Our new brand logo is also aimed at garnering recall among today’s youth who are an important and crucial segment of our audience. It represents the bank’s core values of trust and progress as it takes a step forward. This change enhances the bank's status in the country and provides the differentiation needed to stand out in a competitive and crowded marketplace.”
A snapshot of the derivation of the logo is given below:
It is a combination of â€˜S’ & â€˜V’ and also the upward spiral signaling growth which culminates into the new logo of SVC Bank heralding a new age of prosperity for the bank and its customers.
The new logo element consists of 3 bands:
SVC Bank will usher a crisper and sharper image whilst retaining all the values the bank stands for.
This announcement comes at a time when SVC Bank witnessed its net profit crossing the landmark figure of Rs. 100 crores, with total business crossing Rs. 17,500 crores in FY14 — an increase of more than 16% as compared to FY13.
Mr. Shrinivas Joshi, MD, stated “The new brand logo is crisp and signifies an organization with a strong focus on ethical business practices. It reinforces SVC Bank’s commitment to provide the very best of banking services to ensure customer satisfaction. The rebranding represents our ambitions and shows how the bank has evolved into a dynamic and leading bank in recent years.”
The year 2014 has marked well over a century of growth for the bank and its customers. The bank added 17 new branches over the last year taking the total count of its branches across the country to 157. The bank now has a presence in 9 states across the country comprising Maharashtra, Karnataka, Tamil Nadu, Andhra Pradesh, Gujarat, Goa, New Delhi, Madhya Pradesh and Rajasthan - the newest addition.
About SVC Bank
Set up in 1906, SVC Bank has contributed significantly to the development of the cooperative movement in India for over a century. Today, the bank is one of the oldest and most recognized names in the country’s co-operative banking space and remains the country’s only multi state scheduled bank with a presence across 9 states. It is also the first and only bank to develop and offer â€˜Genius’ — a core banking solution to more than 80 other cooperative banks. With a total business of over Rs. 17,500 crores and a net profit of Rs. 103 crores recorded in FY14, it has proven its robust and strong fundamentals. Headquartered in Mumbai, the bank has a vast spread of 157 branches and has an employee strength of over 2200. For more details visit http://www.svcbank.com/
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