Case study

Positioning State Bank of India as a challenger bank.

SBI UK

We helped:

• Increase engagement and loyalty

• Reach new audiences

• Grow the business

© Stream Limited 2017

1 | Credentials

Not just NRI services.

State Bank of India (SBI) is one of the worlds leading public sector

banks, with Indian government ownership of 58.6% and origins that

date back to June 1806. SBI UK has been established in the UK

since 1921.

Thanks to its popular remittance services, the bank enjoyed an

enviable reputation among Non-resident Indians (NRIs) in the UK,

however, it was less broadly known for its suite of consumer retail

banking products. Following changes in PRA regulations there was

also a requirement for the bank to subsidiarise in the UK, spurring

investment from the parent company to fund the further expansion

of its retail offering and establish an independent balance-sheet in

the UK market.

Recognising the need to reposition the business due to these factors,

SBI UK wanted to revisit how it presented itself to UK consumers,

taking on other high street challenger banks, such as Metro Bank, by

building brand reputation and heightening awareness of its savings

and mortgages offer.

SBI UK

Case study

© Stream Limited 2017

2 | Credentials

A positive company narrative and a growing reputation.We established a press office for SBI UK in early 2014. Our first task was

to conduct a gap analysis, identifying the current perception of the bank

and then how it wanted to be perceived in the run up to the launch of

its UK subsidiary. We did this by conducting a series of interviews with

the banks senior management, followed by workshops with the product

development, sales and marketing teams.

The results of the research were used to define the objectives for the

communications strategy, identify target audiences and to develop

messaging to be used across all PR channels and to steer content

creation. This included the introduction of SBI UK to social media for the

first time and the creation of its Twitter, Google+ and LinkedIn channels.

The messaging for communications centred around “Customer focused

banking”, and was supported by proof points such as simple, honest,

transparent products with no small print, enhanced customer touch-

points (digital and social), and UK branch network enhancements – all

geared towards aligning SBI UK with other high-street challenger banks

whose positioning mirrored a focus on simplicity and accessibility.

A full media relations programme was then put in place targeting

local, trade, national and online media. This encompassed a product

focussed approach to help raise the profile of the banks retail banking

products, particularly savings and the launch of it mortgage products,

among key aggregator sites such as MoneySuperMarket, Which? and

MoneySavingExpert, and ensuring inclusion in the bi-weekly best-buy

tables across national personal finance sections and supplements.

A comprehensive awards programme, covering SBI UK’s chart-topping

savings solutions, ensured we also raised the banks profile among key

media outlets and the broader general public.

With the heightened presence of SBI UK across aggregator channels

and the launch of its social media channels, it was imperative that we

established and implemented an online reputation management strategy

– not only to ensure a constant flow of content across all channels, but

also developing policies to help the marketing and customer services

teams to handle conversations and enquiries online.

Alongside the product focused PR campaign, it was important that SBI

UK began to steer the narrative about the launch of its UK subsidiary

and how this would further benefit the banks growing UK customer base.

We achieved this by developing a proactive media briefing schedule,

identifying and securing interviews, briefings and speaker opportunities

for the banks Chairman and Regional Head on a rolling monthly basis.

Complementing the raised media profile of SBI UK and to further

enhance key media relationships, we organised and hosted an annual

Diwali party. The 2015 Diwali party saw a solid attendance, with 68

acceptances across national, consumer, trade and NRI titles.

Meanwhile, the banks UK branch network expansion and enhancement

plans enabled us to engage with key local media across the country,

highlighting SBI UKs pledge to open flagship branches 7 days a week

and its unique and extremely popular safety deposit box offering.

SBI UK

Case study

© Stream Limited 2017

3 | Credentials

Case study

© Stream Limited 2017

A solid foundation for launch.

Key objectives for the communications programme for SBI UK

included strengthening relationships with aggregators, increased

awareness amongst key national banking Editors, enhanced

relationships with trade titles and local media support for branch

network expansion and enhancements.

Over the two year period that we worked with them, SBI UK was

frequently featured in all key national outlets including the FT, the

Sunday Times and the Guardian. Branch opening interviews were

secured with the Daily Mail, Weekly Tribune, Punjab Radio, The

Banker and Retail Banker International, with a total PR generated

AVE figure exceeding £60k for two branch openings in London in a

single day. Overall AVE for the year exceeded £330k.

SBI UK

4 | Credentials

How we helped:

• Gap analysis, audience identification and messaging development

• Proactive press office

• Enhanced, targeted media relations

• Social media policy and content strategy

• Reputation management

• Events and Awards