After Desjardins four years ago and CIBC last year, Laurentian Bank is in turn refreshing its brand image. The organization is taking the opportunity to launch its first “real” advertising campaign in five years.
With the disappearance of the yellow box that previously accompanied its logo, the emphasis is placed more on the “tree of the bank”.
The changes to the logo were unveiled Tuesday at the annual meeting of shareholders in Montreal.
The refresh of the logo aims to bring the image of the organization up to date. The goal is to get closer to customers and make the brand better known in Quebec. The initiative is part of the deployment of the three-year strategic plan unveiled in December.
The launch of a marketing campaign will be felt in multi-platform advertisements (web and display) displayed this spring, notably in bus shelters, metro stations in Montreal and in certain media.
Discussions held on the sidelines of the shareholders’ meeting revealed that Laurentian Bank’s digital shift will soon take another step. After the recent launch of its mobile application, Laurentian is preparing to launch its contactless debit card this spring.
New features are also expected to be added to the mobile app later this year.
Year of execution
During her remarks on Tuesday, CEO Rania Llewellyn spoke of a year of “execution” in 2022 for the bank. Executive Vice-President Éric Provost, who has the mandate to increase the bank’s visibility in Quebec, for his part underlined that the business services business line remained the organization’s growth engine and that the bank intended to be opportunistic with regard to acquisitions.
Éric Provost recalls that the performance indicators that will make it possible to measure success include the growth of the loan portfolio, the objective of which is to reach 15 billion in 2022 and more than 18 billion by 2024, as well as the increase of the proportion of commercial loans in the United States. In this sense, the objective is to go from 14% (2021 level) to more than 18% by 2024.
French and banking
Criticized last year for the lack of French spoken during its assembly, the financial institution granted Tuesday a greater place in French in its presentations.
Rania Llewellyn, who did not speak French when she was appointed in 2020, had pledged to learn it. She gave about a third of her speech in French. Two senior executives also gave their entire presentation in French.
The director of the Movement for education and defense of shareholders (MEDAC), Willie Gagnon, underlined the “efforts” of the management on the question of French.
Willie Gagnon says he understands that French is not a “popular” subject and that shareholders are not “very concerned about that”. “But we judge that it is a question of society”, he said at the microphone of the assembly.
Willie Gagnon called “psychodramas we have seen in the media” referring to the Air Canada saga. “We want to get out of the idea of accusing people. We would rather address corporate social responsibility,” he said.
It’s deplorable that it’s a moral subject and that it causes squabbling. We don’t want it.
Willie Gagnon, director of the shareholder education and defense movement
MEDAC proposed that the language of the Laurentian Bank be French, including the language at annual meetings, and that its official status be formally recorded, in writing, in the letters of the corporation. The proposal was defeated.
“We dared to hope that the measure would be appropriate since it is based on the location of the head office and on the social responsibility of the company. We are of the opinion that the result of the vote does not necessarily reflect the importance of the subject,” said Willie Gagnon.
MEDAC argued that the principle is simple and clear. “The French language is not a choice. It is the collective instrument for communicating. French is the language of all of us. It is a collective issue of equity, justice and dignity. A national issue. »
The proposal for a 3% surtax on profits generated by banks beyond the billion dollars that the Trudeau government must specify on Thursday would not apply to Laurentian since the profits generated by this financial institution are less than $1 billion. The measure would therefore have no impact on its activities. However, the management did not wish to comment on the proposal for the moment because “nothing has yet been officially announced”.
With the collaboration of The Canadian Press