The medium(sized) is the message

Commerzbank communicates in a new way with mid-sized firms, a key business client

 
It is a fact universally acknowledged that the image of the banking sector has suffered in recent years. The public’s trust in the business models of many institutions has declined as a result of the economic and financial crisis. Many people gained the impression that banks had become detached from the real economy and demanded that the banking business should be more strongly involved with the actual creation of value. Bank bankruptcies, the debt crisis and stress tests are further reasons why banks are viewed more critically than before. Confidence in banks’ competencies in the areas of analysis and interpretation has been eroded: it was recently proven that banks can also make mistakes when it comes to risk assessment. At the same time, banks are facing increasingly tough competition in markets, which are changing at an ever faster pace. Customers are demanding more advisory services while prices are concurrently coming under great pressure, and banks compete ruthlessly against each other to obtain refinancing funds. Together, these factors, coupled with potential risks arising from the sovereign debt situation facing many European countries, have made it more difficult to do business today.

Michael J. Huvers

Michael J. Huvers is head of marketing and communication for the Mittelstandsbank at Commerzbank. He holds a degree in business administration and has stood for sustainability in the Mittelstandbank’s communications for more than 10 years. Prior to this assignment he held senior marketing positions in the pharmaceutical industry.