Is Mashreq's new look a stepping stone or corner stone? Noufal Ali walks the talk.
Noufal Ali, creative director, Fortune Promoseven Oman
Being saddled with the onerous task of defining a brand a logo's journey from paper to perception - is always a difficult one.
But when a long-standing brand seeks to project itself in a new form, the task becomes that much more tortuous.
Having been entrusted with this responsibility, the new Mashreq bank identity has, commendably enough, been able to provide an avenue for a seamless transition, without trampling on legacy.
To examine its validity as a new perspective to the brand, one has to examine whether the logo does in fact manage to chart the co-ordinates of this new path.
On that ground, the new identity passes muster with flying colours, by breaking away from the clutter of banks dotting Dubai's skyline, all of whose images are hemmed in by the typical greys, greens and blues.
By choosing nature as the motif source, the usual baggage of corporate and 'money-minded' symbols is immediately dispensed with.
Its appearance, though seemingly random at first look, subtly hints at the bank's efforts towards growth and thus it also becomes, in that respect, a dynamic symbol for the future.
In terms of representing brand direction, the identity, while embracing the modern age in the looseness of its form, still keeps things deliberately vague, giving the consumer more possibilities to ponder.
Departing from symbolism, to consider the technicalities of colour and texture, the dynamic new palette is a significant new addition to the brand's arsenal.
As the logo shows space to breathe, so Mashreq gets a chance to show off its 'opening up' to new practices and processes. The one pertinent issue of debate at this juncture is the adaptability of the logo, about how well it can be translated across all media and channels through which the brand decides to project itself.
Will its non-compact nature be a hindrance? Or, will the identity later be reduced to more minimal elements as the brand acquires more consumer mindspace?
These are all questions upon which we can only speculate for the time being.
Alarmists would always say that any such re-invention of a brand shakes the very foundations of credibility and fidelity that a brand's worth stands on. But I think that the new identity does not mean that the edifice of before no longer exists, just that it got spruced up, so that the new age can dawn.
The new look throws down a new challenge that Mashreq has to face: convincing the man on the street that this beauty is not just skin deep. For the new-look Mashreq, the task begins now, of living up to its promise.
We are watching and waiting.
Mashreq is the largest private bank in the UAE and the second oldest. Founded in 1967 as Bank of Oman, the bank has played a pioneering role in the industry, particularly in retail banking, says the company. It was the first to launch such products as travellers' cheques, credit cards and ATMs, it says.
It is among the highest performing banks in the region. Last year it reported a Net Profit of over $470 million from a Total Operating Income of $844 million. At the end of last year its Total Assets stood at $15.2 billion
Mashreq has received international awards, particularly for quality management. According to independent research it has more ISO certifications than any bank in the region.
As a leading financial Institution in the UAE, Mashreq aims to be world class in every facet of its business, including its social responsibility to the community it serves. Towards this end the bank pays particular attention to recruiting, training, developing and retaining UAE National employees. Copy provided by Mashreq.
© Gulf Marketing Review 2007
