Published by MBA Skool Team, Last Updated: April 26, 2020
SWOT analysis of Krung Thai Bank analyses the brand by its strengths, weaknesses, opportunities & threats. In Krung Thai Bank 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 Krung Thai Bank to benchmark its business & performance as compared to the competitors. Krung Thai Bank is one of the leading brands in the banking & financial services sector.
The article below lists the Krung Thai Bank SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Krung Thai Bank SWOT Analysis:
For Krung Thai Bank, 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.
Krung Thai Bank Strengths
The strengths of Krung Thai Bank 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 Krung Thai Bank :
1. The top choice for most government agencies 2. Widespread presence in Thailand 3. Around 18000+ employees 4. Office hours are different from other commercial banks, which are adjusted to suit the economic environment and commercial operations
5. Only commercial bank having branch network and ATMs in all provinces nationwide.
Krung Thai Bank Weaknesses
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 Krung Thai Bank SWOT Analysis:
1.Alleged engagement in loan scandals 2.No international presence and dependence only on Thailand
Krung Thai Bank 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 Krung Thai Bank SWOT Analysis:
1. High credit growth rate in Thailand 2. Improving investor confidence after 2011 natural disaster 3. Government aid to boost the economy
4. Increase in demand for banking services in Thailand
Krung Thai Bank 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 Krung Thai Bank are as mentioned:
1. Economy yet recovering from devastating flood disaster last year 2. Low GDP growth rate of Thai economy
Krung Thai Bank Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 7 competitors of Krung Thai Bank:
The state-owned bank under the license issued by the Ministry of Finance
Krung Thai Bank STP
Retail and wholesale banking
Individuals, small business customers and government institutions
Bank that succeeded well in business operation and enjoyed stable and rapid growth while making improvement and broadening its organization to better respond to the customer needs
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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