The new campaign is insightful, has the right emotional mix and is very warmly executed. No over-the-top emotions, only plain simple, understated human feelings
It's that rare occasion when a finance company has got its creative strategy and execution right. And thank heavens there's no silly humour or deathly threats being issued out here (the two favourite marketing ploys in this product category). Franklin Templeton Mutual Fund's new campaign has the right emotional mix which should lead to a consumer connect. It is insightful, slice of life and very warmly executed. No over-the-top emotions, only plain, simple, understated human feelings. And all this is done without boring the life out of us, an achievement in itself.
I watched three commercials and I liked all of them. In one ad, a mom wakes up to an alarm clock at 4.30 in the morning. And she sleepwalks to the kitchen and prepares coffee. There's just enough intrigue (and this is the case with all three commercials), as you wonder what she's up to at this unearthly hour. We discover it's for her kid who's studying for his exams in the next room. No words get exchanged and that only makes the ad more effective. Yes, most of us will connect with this ad. Our moms did do these little things for us when we were young. The voice over says: "We know how much a family means to you. Invest through Franklin Templeton Family solutions and give your child the future he deserves."
In the second ad, a husband is busy watching cricket on the TV. In the background we can see his wife is doing the kitchen work. But the moment she comes and sits next to him, the sensitive man switches channels to a cookery show, something the wife obviously wanted to watch. This one deals with planning for the partner's retired life. In the third one, both, father and son are preparing to leave for work. The son first takes the car keys, and then on second thoughts, drops them and takes the scooter keys and goes off, so that his old man can travel in the comfort of a car. This ad is about planning for the family's future. Again, these are things many of us do for our aged parents.
Good, clean commercials, with very natural situations. Most of us will easily identify with them (unless one is an insensitive cad!). Unfortunately, because these ads aren't smart, witty or typically addy, they are unlikely to pick up any awards. No matter. In my books, this is an example of what good advertising ought to be.
Sometimes, to break all the clutter and noise, being nice and soft is a sound idea.
Net interest income increased 22.9% to Rs1,716 crore in the March 2011 quarter from Rs1,396 crore in fourth quarter of FY09-10 while net interest margins stood at 3.44%
In line with expectations, state-owned lender Union Bank of India reported a net profit of Rs597.60 crore in the quarter ended 31 March 2011 compared to Rs593.50 crore in the corresponding previous quarter. Total income of the bank increased by 29% to Rs5,215.81 crore in the reporting quarter from Rs 4,054.20 crore in the quarter ended 31 March 31 2010.
Net interest income increased 22.9% to Rs1,716 crore in the March 2011 quarter from Rs1,396 crore in fourth quarter of FY09-10. Its Net Interest Margin (NIM) in the quarter under review was at 3.44%, up 3.39% year-on-year.
Gross non-performing assets (NPA) declined at 2.37% as against 2.68% on quarter-on-quarter basis.
For the fiscal 2010-11, Union Bank's net profit was Rs 2082 crore against Rs2075 crore for the previous fiscal. Total income rose 21% to Rs18,491 crore in FY10-11 compared to Rs15,277 crore in the year-ago period.
The provision coverage ratio of the bank stood at 67.58% as on 31 March 2011.
Meanwhile, Union Bank of India has revised its base rate and benchmark prime lending rate (BPLR) upwards. Both the rates have been hiked by 50 basis points and will stand at 9.5% and 14.25%, respectively. The rate hikes are effective from 7th May.
The increase comes on the back of the Reserve Bank of India hiking key policy rates on 4th May and is attributed to an increasing cost of deposits. The revision in the rates will impact advances with floating interest rate structures linked to base rate as well as BPLR.