Standard Bank of South Africa SWOT Analysis, Competitors & USP
Published by MBA Skool Team, Last Updated: April 26, 2020
SWOT analysis of Standard Bank of South Africa analyses the brand by its strengths, weaknesses, opportunities & threats. In Standard Bank of South Africa SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Standard Bank of South Africa to benchmark its business & performance as compared to the competitors. Standard Bank of South Africa is one of the leading brands in the banking & financial services sector.
The article below lists the Standard Bank of South Africa SWOT (Strengths, Weaknesses, Opportunities, Threats), top Standard Bank of South Africa competitors and includes its target market, segmentation, positioning & Unique Selling Proposition (USP).
One of the largest banks in South Africa offering diversified financial products and services
Standard Bank of South Africa STP
Individuals, High Net Worth (HNI) Individuals and large firms looking for financial services
Individuals and large firms interested in financial products
A financial service provide offering diversified services under retail banking, corporate banking, private banking and insurance services
SWOT Analysis of Standard Bank of South Africa
For Standard Bank of South Africa, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position. Let us start the Standard Bank of South Africa SWOT Analysis:
Standard Bank of South Africa Strengths
The strengths of Standard Bank of South Africa looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of Standard Bank of South Africa :
1. One of the largest financial services groups in South Africa 2. Has international presence in few countries like UK, Russia, Turkey, etc. 3. Offers wide range of financial products from retail banking, investment services internet banking, corporate banking to insurance services 4. Strategic alliance with Industrial and Commercial Bank of China (ICBC) can be leveraged
5. Nearly 50,000 people are employed with the bank
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the Standard Bank of South Africa SWOT Analysis:
1. Major players operating in South Africa offering same kinds of products 2. Being a leading player, always in the public eye for any decision it takes, which can backfire at times
Standard Bank of South Africa Opportunities
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in Standard Bank of South Africa SWOT Analysis:
1. Can expand to other countries where the financial sector is not developed 2. Can form strategic alliance with big financial firms or acquire other smaller financial firms
3. Expansion of services to people across communities and incomes
Standard Bank of South Africa Threats
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of Standard Bank of South Africa are as mentioned:
1. Instable and uncertain political as well as economic outlook of South Africa 2. Fluctuations in regulatory policies will hamper the banking operations
Standard Bank of South Africa Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 5 competitors of Standard Bank of South Africa:
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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