Tesco Bank SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 3704

SWOT Analysis of Tesco Bank with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Tesco Bank

Parent Company

Tesco Personal Finance Group Limited


Banking and Financial services



Tagline/ Slogan



The bank is able to cross sell its financial services products to its wide customer base (using Tesco Clubcard points)



British nationals interested in personal financials services.

Target Group

British nationals in need of financial services such as loans, insurance etc.


A bank which provides simple, straightforward banking products which provide good value and also rewards loyalty.

SWOT Analysis


1. The bank offers a wide range of services including insurance, credit cards, loans, savings, mortgages and travel products.
2. The bank has a very strong customer base of over 7+ million customers.

3. The bank sees a cumulative customer spending of over £1bn through its credit cards
4. The bank provides services online or through phone 24x7. This makes it very convenient for the customers to carry out their banking transactions.

5. The bank is supported by one of the largest retail giants – Tesco.

6. The bank has shown commendable growth over the years, with


1. A relatively new bank compared to its competitors which have lasted for several decades if not more.

2. The bank has very few offices in UK - in-store branches in few places only
3. Some customers may not value the tie-up scheme with Clubcard and other Tesco related schemes.


1. The bank has plans of opening current account services soon. This will increase its value to current and future customers.
2. As a new bank, it has a lot of opportunity to bring in customers through launch of new products such as the fixed rate savings scheme that it launched in 2010.
3. The bank can increase its transactions by tie-in schemes with Tesco retail.


1. Liquidity risk, which is the risk that the bank may not be able to meet its liabilities as and when the liabilities mature
2. Default risk, which is the risk that the counter party may not be able to meet its obligations, resulting in losses for the bank.

3. A bad economic outlook can adversely affect the revenue of the bank.



2. Lloyds Banking Group
3. First Direct

The table above concludes the Tesco Bank SWOT analysis along with its marketing and brand parameters.


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