Brand: Itaú Unibanco
Brand owner: Itaú Unibanco
2018 was a tough year in Argentina, characterized by a strong and growing economic crisis, which saw the country reach November with an inflation rate of 43.9%.1 Argentinians felt irritated and hopeless, with concerns about inflation and its consequences the main focus of people and the media.
At category level, there are many banks in Argentina and they can grouped as follows:
- Leaders and mediatics (Santander, Galicia and BBVA)
- Exclusives (ICBC and HSBC)
- Second lines (Supervielle, Macro, Mortgage, Comafi, Itaú and Patagonia)
- Publics (Provincia, City, Credicoop and Nation)2
Challenge and business objectives
Itaú is 13th in bank rankings. In recent years, the company launched digital products (Bankennials, renewal of the APP, APP cards, Itaú Key) which began to give it a clearer positioning as a people-centric, innovative, young and digital bank. Although these efforts were consistent, little investment was made in media to consolidate them and achieve mass awareness.