Aditya Puri is confident that FY08 will be great for the banking sector...
You open a grocery shop in the name of HDFC; take our words, it will give the godfathers in the business a nightmare. As a brand, HDFC breeds trust and integrity that gels with the consumer psyche. Says Renu Sud Karnad, Executive Director, HDFC Ltd., “Integrity, transparency, trust and professional service are important pillars of the
brand HDFC. And most importantly, people (both employees and customers) are our brand ambassadors.” Be it life insurance, banking or asset management, HDFC has generated tremendous clout in all these businesses. “Since most of HDFC’s Group companies are in financial sector, the power of the HDFC brand and the values associated with it, has had a significant bearing on these companies. (Also) the Group companies’ own efforts to align with HDFC brand values, has helped each of them succeed in their respective fields,” adds Renu. An umbrella brand that has nurtured all under it – is the reason why HDFC has skyrocketed from 52nd position last year to a commendable 9th rank this year. What’s more, HDFC as a brand has been created via ‘word of mouth’, sans any overdose of jarring advertising, which perhaps attaches significant doses of customer loyalty to its strong brand identity. Market buzz is rife that HDFC Bank may merge with the parent soon, can you imagine the sheer size of their combined might then? A mind-numbing $18 billion!
You open a grocery shop in the name of HDFC; take our words, it will give the godfathers in the business a nightmare. As a brand, HDFC breeds trust and integrity that gels with the consumer psyche. Says Renu Sud Karnad, Executive Director, HDFC Ltd., “Integrity, transparency, trust and professional service are important pillars of the
brand HDFC. And most importantly, people (both employees and customers) are our brand ambassadors.” Be it life insurance, banking or asset management, HDFC has generated tremendous clout in all these businesses. “Since most of HDFC’s Group companies are in financial sector, the power of the HDFC brand and the values associated with it, has had a significant bearing on these companies. (Also) the Group companies’ own efforts to align with HDFC brand values, has helped each of them succeed in their respective fields,” adds Renu. An umbrella brand that has nurtured all under it – is the reason why HDFC has skyrocketed from 52nd position last year to a commendable 9th rank this year. What’s more, HDFC as a brand has been created via ‘word of mouth’, sans any overdose of jarring advertising, which perhaps attaches significant doses of customer loyalty to its strong brand identity. Market buzz is rife that HDFC Bank may merge with the parent soon, can you imagine the sheer size of their combined might then? A mind-numbing $18 billion!For complete IIPM article click here
Source:- IIPM Editorial, 2008
An IIPM and Management Guru Prof.Arindam Chaudhuri's Initiative
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