Bradford & Bingley has launched a campaign across the press, as the beleaguered bank looks to assure customers their savings are safe. It follows complaints about an ad campaign promoting its savings products even as the bank was being split up and sold.
Last week the Advertising Standards Authority received a raft of complaints against the bank’s advertising (MW.co.uk October 2), which continued to run even after the Government intervened to nationalise its mortgage book and sell on the savings business to Santander-owned Abbey.
The new press ads feature the headline “Peace of mind, when you save with Bradford & Bingley” followed by “We’re backed by one of the world’s largest banks”. The Abbey and Santander branding is prominent, while B&B’s bowler hat icon is only featured as a small symbol over its logo.
It is thought the reassurance campaign replaces the savings ads that had been complained about to the ASA. It is, however, unclear if it has been executed by B&B’s roster agencies BJL Group and MediaCom North, or by Abbey’s agencies of record WCRS and Carat for media planning and buying.
An Abbey spokeswoman said last week it was too early to speculate on the future of B&B’s advertising agencies or marketing staff, with decisions to be made in the coming months.
Santander is also buying B&B rival Alliance & Leicester after its shareholders overwhelmingly voted in favour to sell. It is thought that Santander may look to achieve cost savings through consolidating a number of suppliers, such as agencies, across the three businesses.