An Assessment of Advertising Practices in Awash International Bank, S.C.

Abstract

This research paper examines the advertising practices in Awash International Bank S.C. The post 1991 Era witnessed a major paradigm shift in the financial system of the country. With the financial deregulation put in place, private sector financial institutions have been established as opposed to the former total ownership of banks by the Government. In line with this, Awash International Bank (AIB) was established as the first private commercial bank in Ethiopia. Nowadays, Awash International Bank S.C. (AIB) is one of the biggest private commercial banks in the country, offering a wide range of financial services. At the end of June 30, 2014, the number of banks operating in the country reached 19, of which 16 banks were privately owned and the remaining 3 were Government owned. The banking system of the country was dominated by public sector banks, specifically Commercial Bank of Ethiopia which has above 850 branches across the country. The number of private bank branches in the country reached more than 1,000 at the end of June, 2014. Awash International Bank s.c. provides both local and international banking services to the public. The Bank has a separate department known as Planning, Research and Development Department and Promotion and Public Relations Division is operating under the department. All advertising and promotional activities are handled by this division and the research will try to assess the advertising practices of the Bank and whether it has fulfilled the demands of the public. The project paper will finally, based on the findings of the research, comment on the existing advertising practices of the Bank and recommend to win the attention of its existing as well as potential customers.