Posted in Banking & Financial Services, Total Reads: 1001
SWOT Analysis of St. George Bank with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis
St. George Bank
Westpac Banking Corporation
Banking and financial services
A bank which provides the most competitive interest rates
Australian savers and corporate
Australian citizens and business owners who are in need of banking services.
A bank known for exceptional service, innovative, award-winning products, and specialist financial advice for retail and business customers.
1. The bank was awarded the Best First Home Buyer Lender of the year at the Australian Lending Awards 2. St. George Bank is one of the 5 key customer-facing divisions of the Westpac Group 3. The bank has more than 5700 staff and 396 St. George and BankSA retail branches. 4. The bank has a very experienced executive team which has ensured the continued growth of the bank since its acquisition by the Westpac Banking Corporation.
5. St. George Bank is responsible for sales for 2.6 million consumer, business and corporate customers in Australia under the St. George and BankSA brands.
6. St.George has been involved in community service initiatives such as helping build a secure future for disadvantaged children by funding programs run by smaller charities.
7. The bank offers variety of services such as personal banking services, business and corporate banking services. It offers home loans, personal loans, credit cards, insurance products etc.
1. The bank’s activities can be affected by adverse changes in regulations and policies by the Australian government. 2. The bank has been rated lower (average scores) than many banks such as ANZ, Adelaide Bank etc. in a satisfaction survey
1. The merger with Westpac Bank has opened up huge opportunity for growth and expansion for St. George Bank. 2. The bank can further expand by introduction of new customer friendly products in accordance with their needs (tax saving or more convenience oriented products etc.)
1. The bank faces risk of counter party defaulting on their obligations to the bank. 2. The bank faces risk of market interest rates moving against it leading to asset liability mismatch. 3. The bank faces liquidity risk, that is not being able to meet its obligations towards its depositors.
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