The Industrial and Commercial Bank of China (ICBC) saw steady growth in market and brand value in Argentina, just two years after entering the South American market.
"The ICBC is a young brand in Argentina," said Christian Blousson, the bank's communications manager. "Nevertheless, in our brand 'trackings' we noted that, in terms of recall, it succeeded in completely displacing Standard Bank, obtaining mentions from both clients and non-clients," told Xinhua recently.
In August 2011, the ICBC, one of China's biggest state-owned commercial banks, bought an 80 percent stake in Standard Bank Argentina.
Blousson said "the ICBC has emerged as a brand with sustained growth, leveraged by its value proposition and investment in communication."
Following the final approval of the transaction from the Central Bank of Argentina in November 2012, the ICBC became the majority stakeholder in Standard Bank Argentina.
The move has allowed ICBC Argentina to position itself at a different level, said Blousson.
That is "the new promise of the ICBC brand ... that it builds lasting ties with people and companies, because it provides them with all the tools and experience to strengthen their present and connect with the future," he said.
"We design the communication strategy to be 100 percent aligned with the objectives of the business," he added.
ICBC also sponsors Argentina's national football team, ranked second by FIFA, and the Argentine Rugby Union team, which ranks eighth globally and first in the Americas.
"All of our sponsorship agreements contribute to different degrees to our brand recall and affinity," said Blousson.
