Indian Overseas Bank SWOT Analysis, Competitors & USP
Published by MBA Skool Team, Last Updated: April 26, 2020
SWOT analysis of Indian Overseas Bank analyses the brand by its strengths, weaknesses, opportunities & threats. In Indian Overseas 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 Indian Overseas Bank to benchmark its business & performance as compared to the competitors. Indian Overseas Bank is one of the leading brands in the banking & financial services sector.
The article below lists the Indian Overseas Bank SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Indian Overseas Bank SWOT Analysis:
For Indian Overseas 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.
Indian Overseas Bank Strengths
The strengths of Indian Overseas 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 Indian Overseas Bank :
1. Overseas banking expertise 2. Strong foreign exchange operations 3. Dedicated IT department
4. Banking schemes with social approach like agriculture seed bank 5. Offers services like Loans, Credit Cards, Savings, Investment vehicles 6. IOB is present in countries like Singapore, Malaysia, Sri Lanka
Indian Overseas 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 Indian Overseas Bank SWOT Analysis:
1. Less penetration in India
2. Few no. of branches across the country as compared to other brands
3. Low visibility in advertising and branding
Indian Overseas 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 Indian Overseas Bank SWOT Analysis:
1.Mobile Banking, Internet banking
2.Expansion into rural areas and retail banking 3.Doing aggressive marketing in order to improve brand value
Indian Overseas 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 Indian Overseas Bank are as mentioned:
1. Economic crisis and fluctuating markets 2. Highly competitive environment 3. Stringent Banking Norms laid by RBI
Indian Overseas Bank Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 6 competitors of Indian Overseas Bank:
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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