Bank of Ireland SWOT analysis evaluates the brand by its strengths, weaknesses, opportunities & threats. In SWOT Analysis of Bank of Ireland, 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 Bank of Ireland to benchmark its business & performance as compared to the competitors, and make strategic improvements. Bank of Ireland is one of the leading brands in the banking & financial services sector.
The article below lists the Bank of Ireland SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Bank of Ireland SWOT Analysis:
In this article:
For Bank of Ireland, 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.
The strengths of Bank of Ireland 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 Bank of Ireland :
1. Bank specializes in retail and commercial banking
2. One of the top 4 banks in Ireland
3. Strength in domestic franchise sustained by strong distribution network
4. Strong workforce of over 15,000 employees
5. Has expanded in Great Britain by acquisition of other banks
6. Good marketing and visibility through sports sponsorships
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 Bank of Ireland SWOT Analysis:
1. No global tie-ups and limited international presence, and mainly dependence of Ireland
2. Limited wholesale funding access forcing reliance on support from monetary authorities
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 Bank of Ireland SWOT Analysis:
1. Growth in retail banking and online banking will increase the customer base
2. Opportunity to grow in UK market and Baltic markets
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 Bank of Ireland are as mentioned:
1. High systemic risk in Irish banking industry
2. Challenging economic conditions in Ireland
3.Uncertainty in Euro zone and regulatory changes across the world
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Bank of Ireland:
1. Ulster Bank
2. National Irish Bank
3. Allied Irish Bank
Hence this concludes the Bank of Ireland SWOT analysis.
Continue reading more about the brand/company.
Bank of Ireland Overview | |
---|---|
Parent Company |
Bank of Ireland Group |
Category |
Banking |
Sector | |
Tagline/ Slogan |
Understanding Banking |
USP |
Bank offering services driven by traditions and relationships |
Bank of Ireland STP | |
Segmentation |
Institutions and individuals |
Target Market |
Private individuals, SME’s, large corporate customers |
Positioning |
An Irish bank offering diversified financial services to customers with high level of commitment |
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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