MS Dhoni is appointed as SBI's brand ambassador

Description

State Bank of India (SBI), the country's largest lender, has appointed legendary cricketer Mahendra Singh Dhoni as its official brand ambassador. Dhoni, widely regarded as one of the greatest Indian cricket captains, will play a pivotal role in various marketing and advertising campaigns for SBI. This development reflects SBI's commitment to targeting a younger and more diverse customer base. The list of companies and products endorsed by MS Dhoni includes Oreo, India Cements, Dream11, and Reebok in 2023.

The Trend of Sports Icons as Brand Ambassadors in Banking

SBI is not the only public sector bank to benefit from the lure of popular sports personalities. Other banks like Bank of Baroda (BOB) and Punjab National Bank (PNB) are also leveraging the star power of athletes in their brand promotion strategies. Notably, Bank of Baroda has chosen former cricketer Rahul Dravid as its brand ambassador, while the list of BOB brand ambassadors includes badminton players PV Sindhu and K Srikanth and cricketer Shafali Verma. Punjab National Bank had earlier chosen famous cricketer Virat Kohli as its brand ambassador, highlighting the growing trend of using sports icons to connect with the masses.

Dhoni's Remarkable Career and Current Brand Endorsements

Mahendra Singh Dhoni, a former Indian cricket captain, is a beloved figure in Indian cricket. He recently provided an intriguing insight during an event in Bengaluru, when 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 final match for Team India. Dhoni has taken on the job of brand ambassador for Reliance Industries Limited's JioMart in addition to his affiliation with SBI. Oreo, India Cements, Dream11, and Reebok are among the well-known firms and goods on his list of brand sponsorships for 2023.

The Impressive Financial Portfolio of the State Bank of India

State Bank of India, a financial powerhouse in the Indian banking sector, has an impressive financial portfolio. As of June 2023, the bank's home loan portfolio stood at over Rs 6.53 lakh crore, underlining its dominance in the home financing market. SBI's deposit base stands at a whopping Rs 45.31 lakh crore, with a Current Account Savings Account (CASA) ratio of 42.88%. Additionally, the bank's advances stand at over Rs 33 billion, cementing its role as a major player in the lending landscape. Additionally, SBI has a significant market share of 33.4% in home loans and 19.5% in auto loans, highlighting its leading position in retail banking.

The collaboration between MS Dhoni and State Bank of India is an exciting step forward in the bank's branding journey, as it tries to connect with a younger and more diversified audience by utilizing the charisma of one of India's most beloved sports icons.

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