It's "coral and plum" tones in the new logo for Bendigo Bank, the first brand refresh for the bank in more than a decade.
Bendigo are doubling down on the Better Big Bank concept that's defined its marketing since early last year, selecting as its logo device a darker, plum-shaded B layered on an (apparently) coral-coloured B, with symbolism open to interpretation.
There's also a much more modern font used to spell out the name.
This fresh logo, officially in in use from the weekend, replaces the arrowhead device in use since its takeover of Adelaide Bank 12 years ago.
Melbourne agency AJF GrowthOps advised the bank on the redesign.
In a blurb on the bank's website, Bendigo says the "colour palette, imagery and tone of voice have been refreshed to better reflect a contemporary expression of the brand" and - most relevant - "the bank's evolving customer demographic, where it has experienced significant growth".
Alexandra Gartmann, head of marketing, said the Better Big Bank campaign over the last year "attracted strong growth in 'new to bank' customers at a time when market intention to purchase new products was down 22 percent".
In its February half year result the bank reported "a 4.9 percent uplift in customers numbers in the last half year" though its market share is proving hard to budge.
Australia's fifth-largest bank (just) has belatedly begun to lift its market share on the back of the Better Big Bank advertising push, though not by much.
This time last year, Bendigo and Adelaide's bank share of household deposits was 3.05 per cent, APRA's monthly data shows. In January 2020 its deposit share was 3.21 per cent, with $29.9 billion entrusted to the bank.
The success of the associated Up Bank brand (which, via the fintech Ferocia, relies on the Bendigo balance sheet) explains some of this meagre gain in market share for Bendigo, though so far Up is generating more transactions than deposit footings and those aged 19-25 make up the bulk of the new customers.
On the mortgage side, Bendigo's market share in January was 2.56 per cent, up 11 basis points since March 2019. Its home loan book stands $43 billion.
A separate blurb explains the Double B rebranding will take some time.
Bendigo said its website, internet banking and app, and statements "will be the first to be updated, followed throughout the year by our cards, brochures, uniforms and everything else in-between".
"Further down the track, will be our branches," a costly line-item and this no doubt forms a component of the vaguely-defined (and poorly-received) investment surge planned by the bank for 2022.
Any follow up redesign - or even retirement - of the company's inefficient brand portfolio is a topic not mentioned in the PR so far by the bank around the new logo.
Rural Bank, Delphi Bank, Adelaide Bank and even Sandhurst Trustees, one or more of these and (at the extreme) all four brands may in line for the chop or at least more neatly absorbed under the banner of the plumb new Bendigo brand.