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Standard Chartered

Standard Chartered SWOT
BusinessManagementMarketingSWOT & PESTLE Writing

SWOT Analysis of Standard Chartered | A Superb Financial and Reliable

by Shamsul March 26, 2022

SWOT Analysis of Standard Chartered Bank

 

Standard Chartered Bank is one of the most renowned and reliable names in the financial services sector. It offers banking services to customers. The company’s high growth is the result of unique offerings and exploiting opportunities. Therefore, we are conducting its SWOT analysis. Indeed, SWOT is a superb strategic planning tool that stands for strengths, weaknesses, opportunities, and threats.

About Standard Chartered Bank:

Standard Chartered Bank is probably one of the oldest companies in the international banking sector. It is a British financial company with extensive international reach. The headquarter is located in London. With more than 87000 employees and 1200 branches, it has had an incredible impact across the world. 

Presently, it is providing its services in more than 70 countries. The company has a strong marketing strategy as they are the main sponsor of Liverpool Football Club. Despite its immense growth, there are some areas that need some attention. So, SWOT analysis will give important details about the company, its strategies, and future policies.

Company Name: Standard Chartered

Founders: Chartered Bank of India, Australia and China, Standard Bank

Founded: 1969, London, United Kingdom

Headquarters: London, United Kingdom

Parent Company: Standard Chartered Holdings Limited

CEO: Bill Winters (Jun 10, 2015-)

Type: Bank

Sector: Banking and Financial Services

Tagline: about us We’re here for good

Unique Selling Proposition: Strong presence in African and Asian regions.

Customers: Merchant and personal banking.

Target Consumers: Enterprise and individual investors.

Revenue: 14.7 billion USD (2021)

Net Income: 2.313 billion USD (2021)

Strengths of Standard Chartered Bank: SWOT

Reliable Company:

As we mentioned above Standard Chartered Bank is one of the oldest companies in the banking sector. According to Forbes, it is one of the best multinational performers in the world. So, it has a perception of a valuable and reliable group on people. These factors give strength to the company.

Strong Brand Image:

The company’s overall brand image is really strong due to its high quality services and financial stability. The bank has helped several institutions in their bad times. So, its value is really huge in the world.

Valuable Policies:

They use various philosophies such as “Better Together”, “Do the right things”, and “Never Settle”. Such philosophies convey a better image of the company to the world, making it the biggest strength of Standard Chartered Bank.

Assets:

According to the reports of several financial companies, Standard Chartered Bank is one of the most financially stable banks with a total asset of 827.8 billion USD.

Targeting Underdeveloped Countries:

The bank has a strong foothold in developing markets, but they are also targeting underdeveloped markets to increase its reach. They are focusing on Indian, African, and Middle Eastern regions to exploit new opportunities. These initiatives can give the company the desired boost.

Utilizing Opportunities:

Emerging markets are the main markets of Standard Chartered Bank. It generates more than 80 percent of its earnings from these markets. It offers unique and customizable services in these markets and it is a great strength of the company.

 

Weaknesses of Standard Chartered Bank: SWOT

Slow Productivity Level:

The company is struggling in the developed markets due to an increase in oil price, increased taxes, weak demands, etc. It shows its weakness in the developed markets.

Highly Dependent on South-East Asia:

The bank is highly dependent on the South-East Asia markets such as China. It could be its greatest weakness if something bad occurs.

Higher Charges:

In several markets, the company’s competitors are providing better services and products at low prices. The company charges hefty charges in lodge fees, minimum balance fees, etc. They can lose their customers if it continues.

Low Marketing Share:

Other multinational banks spend a great sum of money on marketing, but Standard Chartered Bank has less marketing share. Its marketing strategy is not so aggressive as compared to competitors. They used conservative and defensive marketing strategies. It may be a weakness of the company that can disrupt its profits. Moreover, they have very few ATMs across the world.

Shortage of Employees:

They do not have skilled and qualified workers to run the business. This shortage of workforce could create some trouble for the company in the future. To operate seamlessly, they need a skilled workforce. They should hire new people to serve the consumers.

 

Opportunities for Standard Chartered Bank: SWOT

Increase in Business and Trade Sections:

The bank should increase its trade and business relations in emerging markets. It can help the entity to increase its exposure and image.

Global Expansion:

They have the potential to increase their reach to a global level. Emerging markets like India, the Middle East, and Africa can give so many growth opportunities to the company in various ways.

Mergers and Acquisitions:

To expand business at the global level, Standard Chartered Bank must acquire smaller institutions. They can collaborate with big companies to increase their offerings and products.

Online Platforms:

During Covid-19, many companies have invested in online platforms to boost sales and exposure. The bank can use the same strategy to target new customers all around the world. For this reason, they must invest in improving their online presence and online services. In this way, they can acquire more profits and customers as well.

Low Inflation Rate:

The company can achieve more by targeting countries with the low inflation rate. It brings more stability, and the bank can strengthen its position in the competitive market in terms of revenue and net income.

Consumer Behavior:

Targeting new customers means you need to bring new trends as well. This thing can create so many opportunities for the bank and helps to enhance its revenue stream. They should provide services according to the need and behavior of customers.

 

Threats to Standard Chartered Bank: SWOT

Heavyweights in the Banking System:

The international banking sector is heavily crowded with so many heavyweights. Competitors of Standard Chartered Bank are targeting new customers by offering customizable services. They provide better services, products, and facilities to take the lead. They could be one of the biggest threats for the bank.

Government Policies:

It is imperative to follow the country’s government policies in which you are operating. As a multinational organization, it is hard to adhere to all the laws and regulations. So, some changes in government policies could be disastrous for the company.

Liability Laws:

These laws vary from country to country. So, they have a huge impact on the business performance of Standard Chartered Bank.

Innovation’s Supply:

As compared to others, the company is lacking in innovation. They do not have innovative products and an online presence. It is a major weakness for the company and could be lethal for its revenue and net profit.

 

In Conclusion:

Being an international financial company, Standard Chartered Bank should focus on creative and useful marketing campaigns to attract new consumers. They just need to focus on under-developed markets and brand innovation to take the lead from others. We want to give the example of Levi’s here that how they attracted customers from successful marketing of high quality jeans.

 
 

Need Help or Advice in Content Management:

Do you want more advice? Do you have good practices to share? Express yourself in the comments.

Moreover, if you want any help to write content to drive more traffic and boost conversions, get in touch through Contact our team?

Do you want any help writing quality content, driving more traffic to your website, and boosting conversions? You can contact me through my Freelancer.com profile also. I always prefer to work through Freelancer.com for smooth functioning. Here you pay safely and securely.

 

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Standard Chartered PESTLE
BusinessManagementMarketingSWOT & PESTLE Writing

PESTEL Analysis of Standard Chartered | A Leading Global Bank 

by Shamsul March 26, 2022

PESTEL Analysis of Standard Chartered

 

PESTEL gives important details about market dynamics and operating challenges. Indeed, it is a great strategic tool to identify the macro business environment of a company like Standard Chartered Plc. It is a short form of political, economic, social, technological, environmental, and legal factors. PESTLE helps the organization to benchmark its position in the competitive environment in which it operates. Anyone can use this tool to boost the overall profitability of the financial industry. Here is the detailed PESTEL analysis of Standard Chartered Bank,

 

Political Factors | PESTEL Analysis of Standard Chartered

The thing that can affect any business in a second is the political factor. This is one of the things that have a huge impact on the performance of the bank because it is operating in over 70 countries. So, the political system differs from one country to another. As a British financial organization, it is highly exposed to UK’s political stability and changes. Also, they need to analyze every country’s political system in which they are operating to avoid the risk of trouble. Here are some important political scenarios that Standard Chartered Plc should keep in mind before investing or venturing to any country,

  • Overall situation of banks in the country and stability of the political system in the country.
  • Military invasion.
  • Corruption level in the country.
  • Tariffs and trade rules.
  • Legal structure of the country.
  • IPR.
  • Wage legislation.
  • Labeling of products and also other relevant things.
  • Taxation.
  • Pricing strategies.
  • Work week rules.
  • Industrial safety.
  • Trading partners.
  • Employee benefits.
 

Economic Factors | PESTEL Analysis of Standard Chartered

When it comes to PESTEL, the most important factor is the economic factor. Also, factors like inflation rate, foreign exchange, interest rate, and savings rate can change the company’s whole business performance. Accordingly, they can impact the revenue stream of Standard Chartered Plc at any time. So, sudden changes in these factors can lead to some disastrous effects. They can also disturb the competitiveness of the company so others can take benefit of this thing. Hence, these economic indicators should be analyzed carefully for constant growth and expansion. Here are some crucial economic factors that Standard Chartered Plc must investigate,

  • Type of economic system in the country.
  • Intervention of government.
  • Exchange rates.
  • Interest rates.
  • Unemployment level in the country.
  • Growth rate in the financial sector.
  • Inflation rate.
  • Labor costs.
  • Education level.
  • Discretionary rate.
 

Social Factors | PESTEL Analysis of Standard Chartered

The role of social factors is intense in any business. People’s buying decisions and overall spending habits create a huge effect on the performance of Standard Chartered Plc. On the other hand, the overall employment level and demographics also play a huge role in this matter. It is also important that how people react towards any product or service. Thus, they should design marketing strategies according to people’s interests. Here are some imperative social factors that the bank must consider,

  • Overall education level in the country or in the financial sector.
  • Leisure preferences.
  • Attitude towards environment and health.
  • Gender roles and impact of culture on the business.
  • Class structure.
  • Demographics.
  • Skill level of people.
 

Technological Factors | PESTEL Analysis of Standard Chartered

On the one hand, utilizing the latest technologies to make online transactions secure and fast is imperative. On the other hand, there are plenty of technologies that can take the bank to a whole new level. Moreover, they should exploit those technologies that help to cope with future problems. Thus, it is necessary to stay competitive in the market. Meanwhile, many companies are using the latest technologies to make their business more profitable and strong. The following are some important technological factors,

  • Technologies adopted by the competitors of Standard Chartered Plc.
  • Impact of new technology on services or products.
  • Diffusion rate of technology.
  • Cost structure in the banking sector.
  • Value chain structure.
 

Environmental Factors | PESTEL Analysis of Standard Chartered

People are pretty much concerned about climate and the world. On the other hand, they are more aware about climate change and air pollution. In fact, they need to follow environmental laws and liability laws. Thus, every country has different liability laws and the company should follow them. Moreover, the bank is trying to adopt green initiatives to reduce environmental impact. Indeed, it is the only way to get the attention of people and attract them. These are some crucial environmental factors,

  • Environmental change.
  • Process of recycling.
  • Renewable energy sources and green initiatives.
  • Waste management.
  • Air pollution.
  • Water pollution.
  • Eco-friendly services or products.
  • Environmental pollution.
 

Legal Factors | PESTEL Analysis of Standard Chartered

They have a huge impact on the performance and way of working of any company. Moreover, every country has different rules and regulations that the bank should follow to avoid any legal action or lawsuit. Lawsuits and other legal proceedings can destroy the image of the company as well as profitability. As a result, the company can lose its market position and competitive edge. Here are some important legal factors that the company must follow,

  • Anti-trust law.
  • Discrimination law.
  • Data protection.
  • Safety laws.
  • Employment laws.
  • Minimum wages law.
  • Intellectual property rights / patents.
  • Online security and customer protection.
 
 

Need Help or Advice in Content Management:

Do you want more advice? Do you have good practices to share? Express yourself in the comments.

Moreover, if you want any help to write content to drive more traffic and boost conversions, get in touch through Contact our team?

Do you want any help writing quality content, driving more traffic to your website, and boosting conversions? You can contact me through my Freelancer.com profile also. Moreover, I always prefer to work through Freelancer.com for smooth functioning. Here you pay safely and securely.

 

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