TSB changes brand to reflect bank’s growth.
2 October 2017
New Plymouth, New Zealand – TSB today unveiled the company’s new brand and corporate logo. The rebranding reflects the 100% independent and New Zealand-owned Bank’s growth while paying tribute to its roots.
“Over the last several decades TSB Bank has grown from a local Taranaki bank to the sixth* largest bank in New Zealand with branches nationwide. We recognised that our company and customer needs were changing and it was time to make sure our brand was still relevant,” said TSB Chief Executive Officer Kevin Murphy.
Since 2010, TSB’s funds have grown from $4 billion to $6 billion, with its customer base growing by 6% in the last year. The Bank’s national growth was also reflected in its credit book growing by 16.9% since 2016 with significant growth in Auckland, Hamilton and Tauranga.
TSB has 25 branches around the country. Half of these branches are located outside of Taranaki, including 5 branches in Auckland. The rest of the branches are located in Wellington, Tauranga, Hamilton, Hastings, Napier, Palmerston North, Christchurch, and Nelson. From today, eight of the branches will reflect the new brand identity with the remaining branches transitioning to the new look over the next 12 months. The new brand is also live across TSB’s website, ATMs and Mobile and Online Banking.
“Our rebrand was centred around research into what New Zealanders thought about us and what they wanted from us as a bank,” said Brent Woodhead, TSB’s General Manager Marketing, “The findings showed us it was time to change our brand to reflect what we stand for and position us as a bank for all New Zealanders.”
As part of its comprehensive brand research programme, TSB spoke to over 3,000 New Zealanders, half of these were TSB customers and the other half were representative of the population. Customer research clearly showed that being 100% New Zealand owned and operated was important to TSB customers.
“In our research, 67% of customers stated that it was one of the reasons they banked with us. Connecting with, and providing excellent Kiwi service to, our customers is still at the heart of our new identity. We recognise that life changes and we want to show that no matter what our customers are going through, we’re there to listen, understand and work with them to achieve the best outcome,” said Mr Murphy.
The brand update sees TSB Bank drop Bank from its name to simply become TSB – similar to the evolution of other major banks, BNZ, ASB and ANZ. TSB’s famous logo, which featured Mt Taranaki, has also had a makeover to reflect the Bank’s growth outside the Taranaki region.
“We’ve still got a mountain peak because it’s a common feature of New Zealand’s landscape – not just a Taranaki icon. To TSB, the peak also symbolises New Zealanders’ goals, challenges and life changes and we are in a position to help customers meet and face these situations through our financial products and services,” said Mr Woodhead.
“We’re known for our personal approach to customer service. We’ve won Consumer New Zealand’s People’s Choice Award for Banking in 2016 and 2017and that reflects our commitment to developing long-lasting and rewarding customer relationships,” Mr Murphy concluded.
While the TSB brand and logo have changed to better represent what the company is today, the foundation of TSB’s business remains strong and the new brand is positioned to assist TSB achieve further growth in the future.
TSB’s new identity is being launched with a new advertising campaign: “Life Changes. We’ll be there.” The campaign launches today on TVNZ and MediaWorks at 6.00pm and follows the changing lives of a New Zealand family over a few decades.
Founded in 1850, TSB has been independent and 100% New Zealand owned since inception. With its head office in New Plymouth, in the heart of Taranaki, the Bank has 25 locations across New Zealand. The Bank holds an A- credit rating as assigned by Fitch Rating.
To find out more, visit www.tsb.co.nz
*KPMG Financial Institutions Performance Survey, 31 March 2017
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