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A CORPORATE STRATEGIC ANNOUNCEMENT- LAUNCH OF NEW LOGO BY UNION BANK Mumbai, September 1st 2008 : Union Bank is pleased to announce its new corporate logo which is a part of its brand repositioning initiative undertaken over the last 18 months. The new corporate logo truly represents our capabilities which we have built in through transformation of human resources and transformation of processes. 1. The New Logo The new logo is a unique representation of universal symbol. It comprises of two letters “U” of Union Bank of India interlocked into one another- we call it the Union Bank inter lock. The symbol weaves around the word “Union” from our name, which has stood for integrity, security, strength and partnership and ingrained in us over the years of our service. The colour choice of BLUE- commitment to service and RED – the passion we bring to our work, are truly reflective of the way we want Union Bank to be perceived by our customers. The new symbol raises levels ahead to reinforce the properties of partnership to help our customers realize their dreams- the dreams in a dynamic global market of today and tomorrow. In short, we have captured in our logo, all that we are striving to achieve. All these are sought to be achieved, while keeping the existing values viz., the brand promise of “Good people to Bank With’ in tact. 2. Journey to the new Logo The journey to the new logo has been our vision to make Union Bank a global bank and a diversified bank and place it in the top league by 2012. With one of the best cost to income ratio of 40.31% in the Industry, the rolling out of 100% CBS branches in a record time and continued addition Corporate Communications Division, Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai - 400 021. of over 2 million customers annually, we have proved our strength to remain in the center stage of growing banks of the country. We have trained over 5000 officers in the front line skills and relationship management. Process Transformation has enabled branches to leverage on technology and shift back office work to a centralized back office operation. By this, our branches have become Sales and service outlets to focus on value added services to our customers. In all, through a 18 month project named NAV NIRMAN we have harnessed the combined might of people, process and technology- building relationship through people and delivering with speed and efficiency enabled by superior application of technology. Side by side, we have introduced diversification in the financial arena by tie up in joint venture for insurance products and mutual funds. Tie up with Dai ichi Mutual Life Insurance Co., Japan and Bank of India on insurance front and KBC, a Belgian firm with global presence in mutual funds are in keeping with this strategic initiative of making Union Bank a diversified Bank. On the global presence, we have set up our first branch at Hongkong and have also set up representative offices at Shanghai, PRC & Abudhabi, UAE. 3. The need for logo change We in Union Bank strongly believe that time has come to let the capabilities and strengths built in by us manifest in our external appearance too through our Brand image for the Bank in the form of a new logo – logo that captures our commitment to meet the dynamics of a new market place and demands of newer generation. Corporate Communications Division, Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai - 400 021. 4. The Promise With the new logo and the capabilities we have built, we are today offering new customer experience in fulfillment of their dreams and aspirations. The 4 promises we deliver today along with our new logo are: i) Value for Money – Our product and services would have great value appeal to our customers and its value will transcend the price to provide higher customer satisfaction. ii) In all our product offerings we will use technology and process to deliver within a committed time .If the time line is missed, there will be commitment to compensate through refund of fees. iii) The choices of channel we offer today are 5 – Branch Banking, Internet Banking, Mobile Banking, Phone Banking and ATMs. We will help the customers to choose from the choice of any of these alternatives best suited out to them. iv) We are committed to transparency in all our offerings. Product and pricing will be spelt out in clear terms and there will be no opaqueness. -------------------------------- X -------------------------------- ______________________________________________________ Released on behalf of Union Bank of India by:- R.B.Menon, DGM, Corporate Communications Tel: 2202 6662 E-mail: email@example.com Corporate Communications Division, Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai - 400 021.
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