Title: Pre- and post-rebranding performance evaluation: a case study of selected Indian banks

Authors: Pushpanjali Kaul; Sangeeta Arora

Addresses: University School of Financial Studies, Guru Nanak Dev University, Amritsar, Punjab, India ' University School of Financial Studies, Guru Nanak Dev University, Amritsar, Punjab, India

Abstract: Banks in today's era have initiated many change management activities such as rebranding for enhancing their financial performance which, if successfully implemented, will upgrade finance based brand equity. The present research aims to empirically evaluate the differences in post-rebranding financial performance as compared to pre-rebranding financial performance of Axis Bank (name and logo change) and Canara Bank (logo change) that exercised rebranding activity during 2007. The data gathered for this study is divided into two event windows: pre-rebranding period (2003-2007) and post-rebranding period (2009-2013). Two levels of analysis have been performed on selected financial performance indicators. First, the performance trend patterns are examined across pre-rebranding period and post-rebranding period. Second, the paired sample t-test statistics is applied on pre- and post-rebranding financial performance. The findings indicate that the changes in name and logo yield significant addition to a firm's value and offer valuable insights to bankers and brand strategists.

Keywords: rebranding; banks; name and logo change; financial performance; change management; marketing strategy; brand identity and strategy change; Axis Bank; Canara Bank; firm value.

DOI: 10.1504/IJFSM.2021.115742

International Journal of Financial Services Management, 2021 Vol.11 No.1, pp.1 - 26

Received: 29 Jan 2020
Accepted: 01 Jul 2020
Published online: 18 Jun 2021 *

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