OCBC defensive after bad review

Singapore - OCBC Bank is hitting back at reports suggesting its creative review has been amateurishly run and is being plagued by agency withdrawals.

Euro RSCG and incumbent agency Y&R have been selected for the next round of the pitch, which will conclude this quarter, while as many as four agencies were reported to have pulled out.

OCBC's head of group corporate communications, Koh Ching Ching issued a statement today to clarify the pitch situation. "When we sent out invitations to selected agencies to participate in our pitch in June 2008, only one agency declined to participate because it had been doing creative work for another bank. There were no pullouts thereafter."

The statement added, "The agencies were provided with a clear brief of what was required in the first credentials presentation meeting, and the time frame. The agencies who accepted our invitation presented to us on 7 July. At the end of our evaluation, only two agencies were shortlisted for round two of the exercise."

OCBC's statement went on to reveal agencies not selected for the second round were "informed last week by mail."

Y&R was informed of the shortlist on 17 July. The agency's Group CEO Network Hub for Y&R Singapore, Tanuj Philip said he was "pleased" Y&R had made the shortlist. "We are continuing to leverage on our category expertise and insights to demonstrate that we remain the right communications partner for OCBC," he said.