(6 July 2005 – Australia) Commonwealth Bank of Australia has appointed a new advertising agency, STW Communications Group, to support the execution of the creative part of CBA’s A$26 million advertising account.Part of the Bank’s new brand marketing strategy, CBA executive general manager, Strategic Marketing, Susan Nixon, notes the Bank expects to work with various parts of STW, with CBA’s product advertising staying the Bank’s internal agency – 360 until early 2006. The new brand marketing strategy includes the ‘Which new Bank?’ slogan the Bank has had in the markets for a year, based on work done way back in 1984 by Saatchi & Saatchi, now an incumbent Westpac agency.
Nielsen Media Research is reporting something of a surge in media spending by the Big 4 domestic banks with National Australia Bank reportedly committing A$20 million on media advertising in the 12 months to May 31, up from A$9 million in the earlier corresponding period. ANZ’s spending has jumped 85 percent over the same timeframe to A$24 million, Westpac’s more modest climb from $14million to $19 million and CBA’s reasonably static spend of A$26 million, up from $25 million.