IPDC Finance Limited, recently rebranded private sector financial institution in the country, has launched a new award for women change makers in Bangladesh in collaboration with the Daily Star. The award, named Unsung Women Nation Builders, aims to recognize women change makers from the grassroots including “root level entrepreneurs, garment workers, teachers and women devoted towards social cause”.
Submission for the award is open now and anyone can nominate candidate working in the field of entrepreneurship, health, art, education, agriculture, education, RMG, and courageous act for the award.
Why it matters: An increasing number of financial institutions are now investing heavily in marketing with the growing competition in the space. IPDC, being relatively new as an active FI, has been investing heavily in building a positive brand image in the market since its rebranding in December last year.
The award sounds a very interesting and effective idea and also indicates that the company will go further in the coming years.
Branded Award is a common practice in the banking and financial industry, largely because of its long-term brand building impact. A host of other banks has also branded award including HSBC, Citibank N.A., the City Bank and more.
Country’s Banking industry has become quite competitive in the recent years. We currently have 57 Banks, 31 FIs and 4 non-scheduled banks (BB data). Hence, a growing number of these companies are now waking up to a new reality of competition and investing in brand long term building.