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Jessica Darnbrough
St George has brought forward the launch date of its Bank of Melbourne rebrand.
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Speaking to The Adviser, St George’s general manager of intermediary distribution Steven Heavey said the rebranding process currently underway in Victoria was well ahead of schedule. As such, the bank had decided to advance the launch date of its Bank of Melbourne re-launch.
“The launch will now happen on 25 July, rather than in August,” Mr Heavey said.
Mr Heavey said the rebrand was a great opportunity for the bank to enter an untapped market.
“Our research shows us that 50 per cent of Victorian customers want to deal with a major bank, while the other 50 per cent want to deal with a regional bank and there is currently no one operating in the latter space,” he said.
“We will fit nicely into this space and act as a true competitor.”
But the rebrand will not just be well received by borrowers, according to Mr Heavey.
“Brokers are very fond of the Bank of Melbourne brand. Once the brand is officially launched, they can talk to their customers about another option in the market place that is solely focused on providing quality service synonymous with a regional bank.”
