Bank of Nova Scotia SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 3910
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SWOT Analysis of Bank of Nova Scotia with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Bank of Nova Scotia

Parent Company

Bank of Nova Scotia / Scotiabank

Category

Banking

Sector

Financial Services

Tagline/ Slogan

You’re richer than you think

USP

The bank offering personal, commercial, corporate and investment banking products and services

STP

Segment

Institutional and individual clients in need of financial assistance

Target Group

Small,medium,large, government  and corporate clients and all sorts of individuals

Positioning

The bank serving 19 million customers in more than 55 countries by offering practical advice and relevant financial solutions

SWOT Analysis

Strengths

1. Canada’s most international bank with more than 2000 branches across 55 countries
2. Strong presence in Mexico and the Caribbean
3. Canada’s largest lender of loans
4. Diversified platforms providing sustainable revenue growth

5. Stronger capital position provides resilience to adverse market developments
6. Has a global team of more than 75,000 employees

Weaknesses

1. Presence is limited to Americas only and limited presence in emerging economies
2. Limited operations and market share as compared to larger banks

Opportunities

1.Acquisition of 51% stake in Banco Colpatria will help in expansion in Colombia
2.Aaddition of assets in China will help in expansion and growth in China
3.High opportunity to expand in Brazil, Chile and other emerging economies

4. Strengthened position in the Canadian mortgage market

Threats

1. Change in mortgage rules in Canada can have significant impact on the business of the bank
2.High taxation can impact profitability
3.High competition from other Canadian banks can lead to low profit margins

Competition

Competitors

1.Royal Bank of Canada
2.TD Bank Financial Group (Toronto Dominion)
3.Citibank
4.Bank of America
5.Wells Fargo



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