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Communication in a Crisis ICICI Bank
Abstract
The case discusses the crisis communication strategies at India-based financial banking institution, ICICI Bank Ltd. (ICICI Bank). On September 15, 2008, the announcement of US-based investment banking major Lehman Brothers that it was closing down due to its exposure to subprime mortgage loans had a huge impact on ICICI Bank. Soon after, on September 16, 2008, Chanda Kochhar (Kochhar), MD and CEO, ICICI Bank, issued a press statement stating that the bank’s UK subsidiary had just a 1 percent exposure to Lehman Brothers and hence the bank did not face any liquidity crisis. |
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Issues
The case is structured to achieve the following teaching objectives:
- Critically analyze crisis communication strategies at ICICI Bank.
- Understand the issues and challenges faced by the bank while communicating with its customers during the crisis.
- Understand the need to have a crisis communication plan at the organizations to handle crisis situations effectively.
| Contents |
| Introduction |
| Background Note |
| The Fall Of Lehman And Trouble At ICICI Bank |
| Communicating During The Crisis |
| Handling The Crisis |
| The Success |
| Looking Ahead |
| Exhibit |
Keywords
ICICI Bank, Lehman Brothers ICICI Bank UK, Crisis communication, Communication strategy , Brand value, Brand communication, Brand strategy, Brand image, Print media, Television campaigns, Power of Belief’ campaign, Public relations, Global financial crisis, Chapter 11 bankruptcy, Liquidity crisis, Subprime mortgage crisis, Investment banks, Finance Ministry, Reserve Bank of India, Securities and Exchange, Board of India
