Siam Commercial Bank SWOT Analysis, Competitors & USP
Published by MBA Skool Team, Last Updated: April 26, 2020
SWOT analysis of Siam Commercial Bank analyses the brand by its strengths, weaknesses, opportunities & threats. In Siam Commercial 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 Siam Commercial Bank to benchmark its business & performance as compared to the competitors. Siam Commercial Bank is one of the leading brands in the banking & financial services sector.
The article below lists the Siam Commercial Bank SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Siam Commercial Bank SWOT Analysis:
For Siam Commercial 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.
Siam Commercial Bank Strengths
The strengths of Siam Commercial 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 Siam Commercial Bank :
1. Bagged the best bank in Thailand awards and also financial performance and management excellence awards.
2. SCB maintained its position as the market leader among Thai financial institutions
3. Every year, SCB makes considerable investment to grow its retail franchise network.
4. The loan quality continued to improve and the non-performing loans (NPL) level dropped considerably
5. Its services include retail banking, corporate banking, business banking, global transaction services and tresury services
Siam Commercial 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 Siam Commercial Bank SWOT Analysis:
1. Present ATM network of SCB is unreliable and lacks proper functionality compared to international players
2. Very few credit card loyalty benefits are being provided when the competitors are providing a gamut of benefits to the customers.
3. Inappropriately managed loan portfolio which led to an increase in the number of non-performing assets.
Siam Commercial 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 Siam Commercial Bank SWOT Analysis:
1. Focus more on customer segment-based strategies with new and innovative products and a shift toward more focus on high-growth sub-segments.
2. To fill in the gap to support trade and investment flows to/from Thailand, SCB should develop and launch capabilities in selected regional markets.
3. Start a group-wide program to overhaul the operations backbone with the primary objective of creating a lean operations environment with scalability and better services quality.
4. Instill the company’s core values and launch various skill-building programs so that the employees can serve the consumers better.
Siam Commercial 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 Siam Commercial Bank are as mentioned:
1. Depreciation of Thailand baht pose a major threat which would increase the losses as SCB invests in other currencies as well.
2. As SCB provides a lot of mobile banking services, the rising number of internet issues in android market can pose a threat to it.
3. As the economic sentiment in the market is still improving, the Thai people are skeptical about investments in the banks.
Siam Commercial Bank Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Siam Commercial Bank:
1. Bank of Ayudhya Public Company Limited
2. Kasikornbank PCL
3. Bangkok Bank Public Company Limited
Hence this concludes the Siam Commercial Bank SWOT analysis.
Leading universal banking group in Thailand and has the highest market capitalization.
Siam Commercial Bank STP
Segmentations the marker based on user type and their requirements
SME, hire purchase and housing loans segment
Provides a wide range of services effectively as it has a vast number of branches
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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