According to the bank, the refreshed identity reflects its transformation and bold ambitions, signalling its drive to build an agile, inclusive, future-ready financial institution focused on meeting customers’ needs.

The new colour and logo will become effective from August 19, 2025. The new colours are deep blue, yellow, and grey, representing trust, stability, professionalism, energy, optimism, visibility, balance, and sophistication.

The bank emphasized that this strategic transformation marks a significant milestone in its drive to better serve its customers, accelerate digital innovation, and expand its footprint in the financial services sector, reflecting its renewed commitment to empowering individuals, businesses, and communities.

The unveiling of the new identity follows a solid first half of the year performance, with the bank recording a profit after tax of N14.45 billion, a significant improvement from the N7.62 billion delivered in the same period of 2024. Fee and commission income surged to  N2.44 billion, from N0.90 billion year-on-year, while retained earnings rose to N15.7 billion, reflecting the bank’s capacity to create value for shareholders.

As the new colour and logo is being applied across the bank’s communication materials, digital channels, and customer touchpoints, the bank’s corporate structure and regulatory status remain the same.

But how do businesses bolster their storytelling to cultivate customers? In this piece, we will explore the significance of storytelling in business and provide practical tips on how to leverage narratives to strengthen your brand.

1. Creating an Emotional Connection

Storytelling allows businesses to go beyond facts and figures and tap into the emotions of their target audience. By sharing authentic and relatable stories, companies can evoke feelings of empathy, joy, or inspiration, making their brand more memorable and engaging. Whether it’s showcasing the journey of your brand, highlighting customer success stories, or sharing impactful experiences, storytelling enables you to forge an emotional connection that goes beyond transactional relationships.

2. Building a Strong Brand Identity

A well-crafted story can differentiate your brand from competitors and help you carve out a unique identity in the market. Your brand story should reflect your values, mission, and vision, conveying what sets you apart. By communicating your brand’s story consistently across various touchpoints, such as your website, social media, and marketing materials, you can establish a distinct and recognizable identity that resonates with your target audience.

3. Engaging and Retaining Customers

Customers are more likely to engage with and remain loyal to brands that tell compelling stories. Storytelling provides an opportunity to showcase the value your products or services bring to customers’ lives. By sharing real-life examples and testimonials, you can demonstrate how your brand addresses pain points, solves problems, or fulfills desires. This not only attracts new customers but also fosters customer loyalty and advocacy, as people feel connected to your brand on a deeper level.

4. Simplifying Complex Ideas

In the business world, complex concepts or technical details can often be difficult for customers to grasp. Storytelling simplifies these ideas by presenting them in a narrative format that is easier to understand and remember. By using relatable characters, relaying anecdotes, or narrating a journey, you can break down complex information into digestible, engaging narratives that resonate with your audience. This helps in building trust and making your brand more accessible.

5. Inspiring Action

Effective storytelling has the power to inspire action and motivate customers to engage with your brand. Whether it’s urging them to make a purchase, sign up for a newsletter, or support a cause, a well-crafted story can tap into customers’ desires, values, and aspirations, compelling them to take the desired action. By aligning your brand narrative with a clear call-to-action, you can drive conversions, increase engagement, and achieve your business goals.

In conclusion, the power of storytelling in business cannot be underestimated. By leveraging narratives, you can create emotional connections, build a strong brand identity, engage customers, simplify complex ideas, and inspire action. 

Craft your brand story thoughtfully, ensuring it aligns with your values and resonates with your target audience. Embrace the art of storytelling, and unlock its potential to elevate your brand and forge meaningful connections with your customers.