CASE STUDY
MB Bank
Creating and launching a new brand to tell MB’s transformation story
Challenge
In 2018, MB Bank (Military Commercial Joint Stock Bank), one of the largest financial groups in Vietnam, initiated a multi-year transformation program in partnership with Prophet, to become a digital-first, customer-centric bank with an ambitious goal of aggressively growing its customer base.
After in-depth customer research, MB learned that it was seen as dated and uninspiring. The bank needed a more modern and fresh brand to attract new customers.
The bank’s hallmark 25th anniversary in November of 2019 presented the perfect opportunity to launch the new brand, reflecting the bank’s transformation to become more modern, digital and customer-centric.
Solutions
In line with their ambition, we developed a new brand platform that captured the essence of MB’s transformation to be a modern bank that enriches the future of people and businesses. The new brand is anchored in the promise that customers will get access to banking that is innovative, trustworthy and as convenient as possible. We also created a tagline to sum up the essence of the new brand: Intelligent Banking. Enriching Your Future.
In parallel, Prophet also created a new logo and designed a comprehensive visual system with key assets to bring the new brand to life.
We then worked with MB and local partners to plan and launch the new brand in the market. We designed a suite of internal assets to educate and generate excitement among employees, including an internal website, posters, videos and photobooths. We also supervised the creation of an external advertising campaign, including a brand video and OOH assets to be displayed throughout Vietnam through strategic media planning.
Results
Following an internal rollout to inspire and educate employees, the MB Bank rebrand was then officially launched to the public on the day of MB’s 25th anniversary, marking the next chapter of their growth on their journey towards transformation.
MB Bank was awarded ‘Most Improved Bank of the Year’ for its refreshed brand platform along with two other awards at The Asian Banker Vietnam Awards 2020.
Our work with MB Bank was awarded gold at the 2020 Transform Awards Asia for “Best Brand Development Project to Reflect a Change of Mission/Values/Positioning”.
“We are delighted to have a trusted strategic partner in Prophet and they have played a crucial role in our very important transformation journey as we evolve towards becoming a digital-first bank.”
Mr. Thai
CEO, MB Bank
Impact
48.8%
increase in revenue in 2021
23.4%
increase in ROE in 2021
8.3m
newly acquired customers in 2021 and 2022
