Banamex -Banco Nacional de Mexico- the second largest financial group in Mexico, is changing its name and identity 15 years after being acquired by Citigroup in 2001 and after recently announcing an investment of more than $1 billion by Citigroup.
The reason for this change according to the company is to reaffirm their commitment to Mexico and their confidence in its prospects and to get everyone to think about Citi and Banamex as one company that brings the “best” of both worlds, instead of all of these pieces of Citi. The investments will be targeted at five areas including digital banking, information technology platforms, offices and ATMs.
“…to get everyone to think about Citi and Banamex as one company that brings the “best” of both worlds, instead of all of these pieces of Citi.”
The new logo is a forced combination between the logos of the two companies, using the typography and colors from Citi (colors used by Banamex since 2001), and maintaining the famous emblem of Banamex, which was a clever idea so people can still relate to the brand and identify it.
And it is not that I hate it, it actually looks good, perhaps because the typeface is great, but even though it follows the guides of the other Citi brands, the combination of the umbrella and the Banamex emblem is too much, and of course I have to mention the big gap between the “i” and “b” which clearly shows the struggle of putting together the brands.
For me there is more behind this explanation of showing the brands as one, there is a strategy to regain the leadership in the country, that Banamex has lost against BBVA Bancomer since 2006. By bringing an international brand name to a country that trusts more foreign brands than the national ones, the company seeks to attract more customers with this image of being bigger and more reliable bank, even though Banamex has been part of this group since 2001. And this is really clear in its website that shows the slogan “The best of Mexico, The best of the world”.
“By bringing an international brand name to a country that trusts more foreign brands than the national ones, the company seeks to attract more customers”
-My F Opinion
Fortunately, there is a short version of this logo which for me is perfect, it is just a simple and clear version that shows “Citi” next to the Banamex emblem; it is clear, simple and readable. And just to conclude, I don’t know why they insist on using this gradient backgrounds everywhere if they are trying to become the number one brand in digital banking.
But well.. at least this is my f opinion