BankMuscat SWOT analysis evaluates the brand by its strengths, weaknesses, opportunities & threats. In SWOT Analysis of BankMuscat, 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 BankMuscat to benchmark its business & performance as compared to the competitors, and make strategic improvements. BankMuscat is one of the leading brands in the banking & financial services sector.
The article below lists the BankMuscat SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the BankMuscat SWOT Analysis:
In this article:
For BankMuscat, 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 BankMuscat 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 BankMuscat :
1. The Bank has a network of 130 branches, 400 ATMs, 140+ CDMs and 4500 PoS terminals.
2. Has a huge customer base that exceeds one million.
3. They also have one branch each in Riyadh and Kuwait and have representative offices in Dubai and Singapore.
4. They also have share in BMI bank of Bahrain, and Mangal Keshav Group in India, share in Muscat Capital LLC, and also owns a stake in Silkbank of Pakistan.
5. Has been voted the best bank of Oman by various agencies
6. It is the first bank in the Middle east region to be ISO 9000:2000 certified.
7. It has a workforce of around 3000+ employees.
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 BankMuscat SWOT Analysis:
1. Its operations are dependent only on the economy of Oman which can be risky
2. Has virtually no international presence (does not have large customer base).
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 BankMuscat SWOT Analysis:
1.Islamic banking arm should be launched in Oman and other nations.
2.They should start expanding in countries like Brazil and Philippines to expand their retail loan portfolio.
3.They can acquire banks in Pakistan and Bangladesh to acquire the required market share to start operating and make profits.
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 BankMuscat are as mentioned:
1.Rising economic uncertainities.
2.Lower growth than expected in the Asian countries that are major importers of Omani Oil.
3.Continued protests in Bahrain.
There are several brands in the market which are competing for the same set of customers. Below are the top 6 competitors of BankMuscat:
1. Oman Arab Bank
2.National Bank of Oman
6.Oman International Bank
Hence this concludes the BankMuscat SWOT analysis.
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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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