Bank Of India SWOT analysis evaluates the brand by its strengths, weaknesses, opportunities & threats. In SWOT Analysis of Bank Of India, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
Bank Of India is one of the leading brands in the banking & financial services sector. The article below lists the Bank Of India SWOT, competitors and includes its target market, segmentation, positioning & USP.
In this article:
For Bank Of India, 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 India 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.
A list of strengths is mostly the starting point in starting SWOT analysis. Below are the Strengths in the SWOT Analysis of Bank Of India :
1. A public sector undertaking. Thus, has government backing
2. Increasing profits over the years
3. Pan India presence with over 3400 branches
4. Founder of SWIFT (Society for Worldwide Inter Bank Financial Telecommunications)
5. Large employee base
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 India SWOT Analysis:
1.Brand valued not as big as SBI or BoB
2.The branches are not modernized in many cities as compared to leading banks
Read more about Bank Of India
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 India SWOT Analysis:
1.Venturing into rural areas
2.Installtion of more ATMs
3.Use of mobile banking, internet banking on a large scale
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 India are as mentioned:
1.New banking licenses
There are several brands in the market which are competing for the same set of customers. Below are the top 5 competitors of Bank Of India:
1.Bank of Maharashtra
2.Bank of Baroda
3. Central Bank of India
4. State Bank Of India (SBI)
5. ICICI Bank
Hence this concludes the Bank Of India SWOT analysis.
Continue reading more about the brand/company.
|Bank Of India Overview|
Bank Of India
Banking, Financial Services
Relationships beyond Banking
A bank that gives something extra to its customers
|Bank Of India STP|
For people who wish to invest their money in banks
Bank that delivers with a human touch
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.
Browse marketing analysis of more brands and companies similar to Bank Of India. This section covers SWOT Analysis, Competitors, Segmentation, Target Market, Positioning & USP of more than 2000 brands from over 20 industry sectors.
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