The State Bank of India (SBI), the nation’s largest lender, has appointed the legendary cricketer Mahendra Singh Dhoni as its official Brand Ambassador. Dhoni, who is widely regarded as one of India’s greatest cricket captains, will assume a crucial role in various marketing and promotional campaigns for SBI. This development reflects SBI’s commitment to engaging with a younger, more diverse customer base. List of companies and products androse by MS Dhoni such as Oreo, India Cements, Dream11 and Reebok in 2023.
The Trend of Sporting Icons as Brand Ambassadors in Banking
SBI is not the only public sector bank to capitalize on the appeal of popular sports personalities. Other banks, such as Bank of Baroda (BOB) and Punjab National Bank (PNB), have also leveraged the star power of athletes in their brand endorsement strategies. Bank of Baroda notably enlisted former cricketer Rahul Dravid as its brand ambassador, while BOB’s lineup of brand ambassadors includes badminton players P V Sindhu and K Srikanth, along with cricketer Shafali Verma. Punjab National Bank had earlier signed on the renowned cricketer Virat Kohli as its brand ambassador, underlining the growing trend of using sports icons to connect with the masses.
Dhoni’s Remarkable Career and Recent Brand Endorsements
Mahendra Singh Dhoni, a former Indian cricket captain, is a revered figure in Indian cricket. He recently revealed an interesting insight during an event in Bengaluru, where he shared that he had a premonition of his retirement from international cricket during the 2019 ICC Men’s ODI World Cup semifinal, which turned out to be his last match for Team India. Beyond his association with SBI, Dhoni has also taken up the role of brand ambassador for Reliance Industries Limited’s JioMart. His list of brand endorsements for 2023 includes well-known companies and products such as Oreo, India Cements, Dream11, and Reebok.
State Bank of India’s Impressive Financial Portfolio
State Bank of India, a financial powerhouse in the Indian banking sector, boasts an impressive financial portfolio. As of June 2023, the bank’s home loan portfolio has surged past ₹6.53 lakh crore, highlighting its dominant position in the housing finance market. SBI’s deposit base stands at a staggering ₹45.31 lakh crore, with a Current Account Savings Account (CASA) ratio of 42.88%. Furthermore, the bank’s advances have crossed ₹33 lakh crore, cementing its role as a key player in the lending landscape. In addition, SBI commands a substantial market share of 33.4% in home loans and 19.5% in auto loans, reinforcing its prominence in retail banking.
The association between MS Dhoni and State Bank of India marks an exciting chapter in the bank’s branding journey, as it seeks to resonate with a younger and more diverse audience, leveraging the charisma of one of India’s most beloved sports figures.
Important takeaways for all competitive exams:
- SBI Chairperson: Dinesh Kumar Khara;
- SBI Founded: 1 July 1955;
- SBI Headquarters: Mumbai.