SWOT Analysis: SWOT analysis is a powerful tool to know the strengths, weaknesses, opportunities and threats for any company. The company itself does SWOT analysis so as to know where they are standing vis-a-vis their competitors and what are the areas that can be worked upon generally does it.
Strengths:
• Part of booming Sector
• Minimum cash is not required in accounts
• Local support
Weaknesses:
• No or very less ATMs. This is one aspect that ABC has to work on seriously.
• Poor IT infrastructure
• Less corporate clients
Opportunities:
• Government policies are present that do not entertain new banks. This works in the advantage of ABC, as customers do not have much of choice.
• Technologies, by this we mean that most of the banks lack world-class technology. Hence ABC has an option to adapt to new technologies quickly and then they can market themselves in a way to attract more number of customers.