Westpac Banking Group SWOT Analysis, Competitors, Segmentation, Target Market, Positioning & USP

Westpac Banking Corporation

Banking

Banking & Financial Services

Help is what we do

A major banking corporation catering to the financial needs of citizens in Australia, New Zealand and Pacific countries

Institutional and individual clients seeking financial assistance

Small to medium enterprise customers, commercial customers and all sorts of individuals

A bank which seeks to meet customer’s total banking and wealth needs

Below are the Strengths in the SWOT Analysis of Westpac Banking Group:

1. Leads in terms of number of branches and ATMs in Australia
2. Second largest business banking lender in Australia
3. Leads in Institutional banking in Australia
4. Provides flexible banking services like migrant banking
5. Over 40,000 employees serve more than 12 million customers
6. Westpac has been described as one of the world's most socially responsible banks

Here are the weaknesses in the Westpac Banking Group SWOT Analysis:

1. High competition in retail banking from other leading banks
2.Number of branches are still less when compared to some majot banks

Following are the Opportunities in Westpac Banking Group SWOT Analysis:

1. Westpac given license to open banks in other countries, this can help in new market development and global expansion
2.High technology focus and innovation can help in developing new banking products

3. Setting up operations in emerging economies to leverage on the growing economies

The threats in the SWOT Analysis of Westpac Banking Group are as mentioned:

1. Worsening Australian& New Zealand economy will have a significant  effect on the bank
2.Credit limit and regulatory changes will have impact on the bank

Below are the top 3 Westpac Banking Group competitors:

1.Commonwealth Bank
2.Australia and New Zealand Banking Group
3.National Australia Bank