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The Rise of Iranian Brands in the Heart of Asia
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  • banking,advertising,EMRC
  • banking,advertising,EMRC
  • banking,advertising,EMRC
  • banking,advertising,EMRC
  • banking,advertising,EMRC
  • banking,advertising,EMRC

The 10 Iranian Banks which Spent Most on Advertising

A study on the distribution of advertising costs of the banks and financial institutions in the Iranian calendar year 1395 (2016-2017) shows that the most emphasis in marketing has been done in the field of electronic banking services.

According to the Emrooz Marketing Research Company (EMRC), the study and survey of the banks in terms of customer and advertising shows that during the past 12 months people above 15 years of age in 17 provincial centers have personally referred to the banks. Meanwhile, 36% of the people have used the electronic banking services.

Based on this research work in which advertising in magazines, newspapers and television have been considered in the absence of time discounting, money deposit and withdrawal with 57% was the top factor for the personal reference of the people to the banks. Some 32% of the people went to the banks to transfer money and another 20% for opening of bank account. Meanwhile, 11% of the people referred to the banks for receiving information about their deposits while 21% went to the banks for other purposes.

The private commercial banks have an influence of 70% among the clients; the influence of public commercial banks among the clients is 37% and that of the public specialized and development banks is 19%. The financial and credit institutes with 4% have the least influence among the customers.

The study of the important factors in the bank choice shows that the spectrum of services is the most important factor in choosing a bank. After the scope of services which accounts for 21% of the votes, reputation and background of the bank with 19%, easy access with 13%, quality of services with 12%, past experiences and recommendations by others with 10% and advertising with 4% are among other factors for choosing a bank by the customers.

Another part of the research work says a total of 36 banks and financial institutes have done marketing through the press and the television and 99% of the marketing budget of the banks has been spent on TV commercials. The banks have spent the largest advertising budget in the winter.

On this basis, the marketing cost of the banking industry in the winter of Persian calendar year 1395 (2016 – 2017) was about 54% of the total costs in the said year which is 6.3 times more than the average seasonal costs of marketing in other seasons of the year.

In the classification of the marketing costs on the basis of type of the bank studies show that the private commercial banks with a share of 82% of the total costs have had the highest amount of advertising. The credit institutes allocated 14%, public commercial banks 2% and public specialized and development banks 1% of the total marketing costs to themselves.

Meanwhile, with the survey of the advertising costs of the banks and financial institutes it was specified that the most focus in the marketing belonged to the electronic banking services. After the electronic banking services with 32%, the Public Relations account for 16%, deposit accounts 13%, bank cards 8%, deposit and branding each 6%, granting loans and facilities and ATM services each 3% and other banking services 13% of the advertising costs.

The classification of the advertising costs of the banks and financial institutes with a breakdown of the banks shows that 90% of the entire marketing costs of the banking industry were spent by 10 brands. The City Bank (Bank Shahr) with a share of 25% has spent the largest part of the costs on advertising. Bank Saderat with 18% and Melal Credit Institute with 12% stood on the second and third ranks.

Bank Pasargad accounts for 10%, Bank Ansar 8%, Bank Mellat 4%, Bank Sina 3%, Bank Tejarat 3%, Bank Parsian 2% and other banks 10% of the entire marketing costs.

In total, active brands have employed different methods in the allocation of budget to TV commercials. For example, 42% of the advertising costs of the City Bank have been allocated to advertising in newspapers, magazines and television in which only 6% of the entire marketing costs has been spent in television. Also, Bank Saderat has allocated 6% of the entire 66% of its advertising budget to television teasers.