The Bank of Scotland (BoS) revealed its strategy for a new
partnership in the US to the press, taking credit for steadily
increasing its market share. The link between the BoS and ex-evangelist
Dr Pat Robertson prompted some ’holy’ puns headlines. But the press also
noted its success with phone and specialist banking and explained that
these types of personal finance had yet to reach the US.
The BoS CEO said: ’I don’t see why business and religion don’t mix’.
Analysts and competitors applauded the business sense but ethical
questions spilled over. It was not just the antipathy of the ’pink
pound’ (Sunday Telegraph 7/3/99) but doubt about Dr Robertson’s own past
As one analyst noted, the market segments targeted are God-fearing
Americans with a good credit history. The only problem is that the Bank
of Scotland risks alienating people who do not share Pat Robertson’s
The question is whether in the longer-term, the connection between the
New Foundation Bank and the Bank of Scotland is remembered.
Evaluation and analysis by CARMA International. Cuttings supplied by the
Broadcast Monitoring Company. ’What The Papers Say’ can be found at: