Building a stronger financial sector: The role of branding in Bangladesh’s

In a rapidly evolving financial landscape, branding has become the cornerstone of success for banks around the world. No longer limited to logos or advertisements, branding now involves creating trust, building emotional connections and differentiating in a competitive market. For Bangladesh, with over 50 scheduled banks serving an increasingly diverse population, effective branding is not just a business strategy—it’s a necessity.

This detailed article explores how branding can transform the Bangladeshi banking sector. It highlights key strategies, shares relevant data and offers actionable insights to help banks strengthen their market presence while meeting customer expectations.

Why branding matters for banks

Banking is inherently a business of trust. Customers place their savings, investments and future financial security in the hands of banks. This trust, however, must be earned and nurtured through strong branding strategies.

In Bangladesh, trust is especially critical. Scandals, mismanagement and irregularities in recent years have caused many customers to question the integrity of financial institutions. According to a survey by Bangladesh Bank (2024), 65% of customers prioritize trust and transparency over all other factors when choosing a bank.

Globally, data supports the impact of branding on financial performance. A McKinsey study found that banks with strong brands saw 20% higher customer retention rates compared to competitors. Similarly in Bangladesh, customer-centric banks reported a 15% increase in deposit growth over the past three years.

Core elements of effective bank branding

Building trust and reliability:

In Bangladesh, where financial literacy levels remain low, consistent service and clear communication are essential for building trust. Research by Leonard Berry (2000) shows that customers remain loyal to banks that deliver predictable and reliable experiences.

For example, BRAC Bank’s positioning as a “Bank for Small and Medium Enterprises” has established it as a trustworthy partner for entrepreneurs, a key segment of the Bangladeshi economy.

Embracing digital accessibility

As the financial sector shifts towards digitalization, branding must reflect this transformation. In our country, mobile banking platforms like bKash and Nagad have set benchmarks for digital accessibility. Offering intuitive apps, personalized notifications and seamless transaction experiences strengthens a bank’s reputation as modern and customer-friendly.

A study by Dibb and Simkin (1993) noted that brands that incorporate technology into their identity are more appealing to younger audiences. With 45% of Bangladesh’s population under the age of 25, digital branding is a significant opportunity.

Aligning with local values

Bangladesh is a culturally rich and diverse country. Banks that align their branding with local…