SWOT Analysis
Read the SWOT Analysis of a full sample
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This page presents the sample swot analysis of a
full example
marketing plan available on this site for free download. This swot
analysis detail the company's strengths, weaknesses,
opportunities and threats that will be used in determining the
best marketing strategies to be employed. The has been written
to save your company the time and money it would take to
formulate your own from scratch. Go to the
sample SWOT analysis.
The SWOT Analysis identifies the opportunities, threats, strengths and
weaknesses of the bank, as follows:
SWOT Analysis Opportunities
The Bank is very well placed with a good and assured customer base from the
level of the government and the public sector business. Many patriotic
Nationals will do business with Sample Bank Ltd because they know that the
profits of the Bank belong to the people of the country and are used for the
country’s development. The availability of modern telecommunication systems
and technology will facilitate the improvement and strengthening of the Bank’s
international business and ATM services, and the development of new services,
such as telephone banking. The increased access to computers by customers will
allow the bank to reach more target groups through electronic communication. The tourism industry is growing - cruise ship berth was built, new international
airport coming, hotel industry developing, new foreign investors- which should
introduce more capital into the country and should spawn employment
opportunities for locals. The political stability and the economic growth
across the eight member countries of the ECCB Currency Union, including this
country, ensures the stability of the EC$, and this is an encouragement for
persons returning home to invest locally. The establishment of the CARICOM
Single Market and Economy can present opportunities for us to better utilize any
excess liquidity through diversification of our lending portfolio and through
investments. The merger of Barclays Bank and CIBC could result in internal
conflicts due to cultural differences that may cause customers to move to Sample
Bank Ltd. The population that is mostly young comprises a strong workforce
capable of advancing the Government’s developmental plans to take the country’s
forward.
SWOT Analysis Threats
Some customers prefer to do business with our competitors because Sample
Bank Ltd is Government owned and political interference or changes often affect
their confidence in the Bank. Sample Bank Ltd may be unable to attract certain
customers because it is Government owned and there is the perception that their
account information is open to the Government and its agencies. The
introduction of American culture and lifestyles into our society could result in
greater external spending and so have a negative impact on the local economy. With the establishment of the CARICOM Single Market and Economy the Bank will be
faced with competition from regional banks that are better equipped and prepared
to meet the changing needs of customers. We also have to compete with banks
and other financial institutions in the Organization of Eastern Caribbean States
(OECS) and abroad as a result of globalization. First Caribbean International
Bank (the new entity that will be formed from the merger of Barclays Bank and
CIBC) will be a stronger force to recon with, as it will be able to reach a
wider cross-section of the market due to the combining of strategic capabilities
and competences, human and financial resources, and contacts and delivery
networks. The black listing of the country by the FATF could affect the Bank’s
correspondent banking relationships, as the Bank will be under greater scrutiny
from the eyes of the outside world. Any severing of such relationship will
curtail the bank’s ability to handle customers’ international business. The
deterioration of the banana industry, one of the country’s major industries,
could result in a downturn in the economy. The anticipated decline of the
local tourism industry as a result of the recent terrorist attacks on the US
could also result in a downturn in the economy.
There is increased competition from the non-blank financial sector, the
credit unions, the savings & loans bank, the building & loans association and
the insurance companies. These institutions are not regulated by Central bank
and hence they are not restricted in their operations. They have been paying
very high rates on deposits and have also been offering more and more of the
services which were traditionally offered by commercial banks. The Eastern
Caribbean Securities Exchange (ECSE), which was recently opened by the ECCB
across the eight member territories of the ECCB currency union, will present
other investment opportunities to customers and could reduce our deposits, as
well as our chance to raise additional deposits.
SWOT Analysis Strengths
Our leading position in the industry, with respect to our market shares of
assets, loans and deposits, puts us in a position to influence the level of
interest rates. We are the only local commercial bank with a Board of
Directors, a Board that can attract good business to the Bank as it consists of
successful & respected business people with a good mix of expertise in key
industries and with strong social links in the country. Approval of loans is
faster with a local Board in place. Most of the staff are young and have the
requisite capabilities, and are re-trainable for newer systems and technology.
This will therefore make the selection and training of the sales team easy. All the members of the staff are local, and very well known and have good
contact with all sectors of the community. They will therefore be in a good
position to attract more customers to the Bank. The network of branches and
other outlets affords customers service from any point within the state as the
computer mainframe is accessible from all branches. The Bank is leading the
local competition in information technology, and its core banking system has the
capacity for further advancements. Customers may prefer to open accounts at
Sample Bank Ltd because statements and account information are produced faster
that our competitors who on several occasions have to wait on their regional
head offices to forward the information. The monopoly some branches have by
being the only bank in the particular area and the only collector of bills for
various utility companies is advantageous in increasing customer base. The
strong network of regional and international correspondent relationships places
the Bank in an advantageous position in the execution of foreign exchange
business. It may be an advantage for Sample Bank Ltd to have the largest
customer bade as customers may encourage others to use its services.
SWOT Analysis Weaknesses
The lack of exposure for our staff as a result of our poor customer mix
makes it difficult for our staff to be as experienced and equipped as most of
our competitors to deliver services efficiently and maintain high standards of
service. Our international competitors, the other four commercial banks, are
better prepared to stay afloat in the face of strong competition with research
departments and qualified staff to keep their institutions in line with legal,
technological, operational and other changes. The Bank is totally reliant on
its correspondent banking relationships to conduct its foreign exchange business
and may find it impossible to survive against its international competitors if
its correspondent banks should close such relationships. Although Sample Bank
Ltd has the largest customer base, it has over the years had little success in
attracting the business community because it is government owned, and may
continue to fail in this regard.
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