Growth
The Russian subsidiary of an international insurance group was approaching a cap in the sales of their mainstream bancassurance products, and was looking for new growth opportunity.
Krasnal’s founder Alexis suggested a bold move: entering the motor insurance arena. But to avoid investing in the costly claims management infrastructure required to service nationwide the customer base of their distribution network, he had the idea to partner with a local carrier, and the clout and touch to negotiate a win-win partnership.
The company launched their motor insurance product in just a year, which soon accounted for 15% of the Gross Written Premiums.
Transformation
A bank was stalling on a dynamic and competitive Central European market. Revenues and customer base were stagnating, financial results were declining and the staff was in a state of confusion about the strategy and loss of meaning in their activity.
Krasnal’s founder designed a transformation plan aimed at refocusing the bank on its historic business of consumer credit and a positioning as a disruptor of the mass market banking, with humour as a distinctive sign of communication. It was a return to the original Purpose of the bank, which had been founded in order to facilitate access to the European Union lifestyle for as many people as possible, and whose first advertising campaigns were themselves imbued with humour.
Encapsulated in a strong narrative leveraging on cultural codes specific to the company, the transformation plan energised the whole organisation and channelled the use of digital technologies to redesign processes, resulting in a 24% increase in revenues and a bottom line back to black.
Turnaround
This retail banking franchise was one of the very few not making money in a dynamic, competitive, yet profitable Eastern European market, and its shareholder couldn’t figure why and how to fix it.
Krasnal’s founder identified the key issue: the bank had lost its Purpose and was focusing on markets on which it had no competitive advantage. We positioned back the bank on what it was meant to be, and developed a story echoing with the Essence of the Teams which mobilised their energy.
Despite multiple crises on a now adverse market, the retail banking business went back to black and resume with profitable growth.
M&A
An international banking group wanted to dispose of their subsidiary in a CEE country. Ranked 13 on a highly competitive market, this bank was lacking critical size and delivering below average profitability with a lacklustre growth.
Krasnal’s founder highlighted two overlooked capabilities: an expertise in consumer lending and a know-how in developing a distribution network based on independent agents.
Valuing these assets to competitors he knew would be interested through a compelling equity story, he managed to sell the bank at a price 50% above comparable transactions on the market.