Why Are Nigerian Banks Rebranding?

Why Are Nigerian Banks Rebranding?
October 30, 2015 Nneka Ngene

Over the past year or so, about 4 Nigerian banks have unveiled their “new face” and to be honest some just look off. From these rebrands, you can tell they are trying to capture a particular audience i.e. the younger crowd.  A lot of the logos of Nigerian banks do in fact, look a bit dated and more appealing to the older generation. My problem with some of the rebrands is that they could have actually done a better job with the logo designs.

Let me walk you through the latest rebrands in the Nigerian Banking sector.

Wema Bank

nigerian-banks-rebranding-Wema-Bank

Do I like it? I’m a bit on the fence about this one. The old logo does look a bit dated. I love the new brand colour, but I think a better job could have been done about the brand symbol. I understand that it’s suppose to look fresher and a bit more “hip”, but it falls short, still. Let me rate this a 4/10.

First City Monument Bank (FCMB)

nigerian-banks-rebranding-FCMB

Heads up, there’s some bias involved here. I know quite a number of people hate the new brand colours, but I love it. My only tweak is: the purple should have been a bit richer. Maybe, slightly darker? I think the old logo looked a bit too exclusive. By that I mean, FCMB is a bank for only the elites. Is that what they were pushing? Maybe. What this new logo tells me is FCMB is reaching out more to its younger audience while still maintaining it’s premium feel. The fonts have rounder corners and the colours changed. I’ll rate this 6/10.

Fidelity Bank

Fidelity-bank

Ok, we get it. If you look closely from left to right, you can see an arrow head shaped out at the top right corner. The progressive line indicating their commitment to growth? This is my least favourite rebrand. The font is off and the spacing between the letters make it all look like a hack job. Let me confess, it does look so good and noticeable whenever I see it while driving. Still not impressed, though. I’ll rate this a 2/10.

Union Bank

Union-Bank

The more I stare at the logo, the more I like it. It’s funny because this wasn’t my initial reaction. I think I was more surprised at the fact that yet another bank had rebranded. From their statement on the day of unveiling, this rebrand was in line with their need to move from being a “big, strong and reliable,” to “building simpler, smarter bank.”. I think I’m ok with that. The more I look at it the more I agree that their new identity communicates this vision. The Head of Corporate Affairs & Corporate Communication emphasized that the, “iconic white stallion, which represents strength and passion, is now in motion, cantering forward with energy and dynamism.” I’ll give this a 7.5/10.

These are interesting times and we will surely keep our eyes peeled as more banks perhaps, rebrand their identity. We have actually decided to create new brand identities for several banks (just for the fun of it) so stay tuned for that.

What do you think about the latest bank rebrands and which one stands out to you the most?

  • mydesigns4u 2 years ago

    I agree with your ‘scores’ although I would have given the new fidelity logo 2/10, all the old logo needed was a more vibrant colour and not a total change. The new colour seems quite ‘raw’. The Union bank new logo is my favourite.

  • David Rotimi 1 year ago

    “it does look so good and noticeable whenever I see it while driving” I love your honesty, the logo isn’t all that, but the way they project it every single time especially at night you can’t help but notice it.

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