Capital Ethiopia Newspaper

NIB changes logo

Nib International Bank (NIB) officially inaugurated its new logo on July 3.

NIB changed its logo seeking a brand identity that meets the demand of the customers and represents the Bank’s vision, mission and core values.
Chairman of the Board of Directors Tafesse Bogale says it was a pleasure for the Board and the Management team to introduce the new brand at a time when the bank is finalizing its second five-year strategic plan, undertaking an organizational restructuring study and completing its core banking solutions (CBS) with state-of-the-art information technology.
According to the Chairman, the Board and Management team worked hard to create a brand identity that is consistent with the Bank’s valuable qualities of products and services and new developments that are consistently taking place in the Bank.
Tafesse said that the new brand and logo were designed in such a way that customer at home and abroad as well as all stakeholders could readily recognize the Bank without being explicitly exposed to its name.
“Successful companies pay attention to their brands and treat them like strategic assets,” said  Amerga Kassa, President of NIB adding “our brand is made up of many elements that reflect the products and services we offer.”
Amerga further said NIB chose the new logo because of its clearness, modernity and ease to identify with.
Yahyerad Tadesse, owner and General Manager of Studio net which designed the logo at cost of at least 250,000 birr and more than one year of work, said the yellow color signifies intellect, loyalty, joy as well as the honey produced from bees while brown was supposed to symbolize soil, network and abundance.
“We’ve done a range of designs including poster designs for the renowned artist Teddy Afro in his two albums, the 2005 Yastseriyal and the recently released “Tikur Sew” album as well as posters for his Europe and North America tours” Yahyerad told Capital.
Other notable works of Studionet are branding for the under construction Zefmesh Grand Mall and the branding for the recently held Shanghai Expo Ethiopia pavilion.          
Nib International Bank has recorded accelerated growth since it started its operation 13 years ago. According to the 3rd quarter report (2011/12), NIB has total assets of 9.87 billion Birr, total deposits 5.4 billion Birr, total capital 1.45 billion birr and paid up capital 942.5 million birr. Within in its 55 branches, the bank has employed 2,063 citizens. It has 3,837 shareholders.