SWOT Analysis of Commonwealth Bank of Australia
Commonwealth Bank of Australia – SWOT Analysis
Commonwealth Bank of Australia – Strengths
Strength – Commonwealth Bank Brand
Commonwealth Bank brand is the most recognised brand in Australian financial services industry. It is a brand that has evolved over its 102 years of operation with a strong brand history. Commonwealth Bank brand is highly regarded and trusted within the Australian financial services industry. Other well known brands under the Commonwealth Bank Group includes Colonial First State, CommInsure, ASB (New Zealand), Sovereign, FirstChoice, CommSec, and Bankwest.
Strength – Scale
Commonwealth Bank has a strong presence in Australian financial services industry and has the largest customer base of any Australian bank. Commonwealth bank is the main financial institution for more than 33% of Australians who are 14 years of age or above. It provides products and services to every day Australians, corporations, government entities and other major institutions operating in Australasia. Commonwealth Bank have businesses globally in New Zealand, Europe and the Asia-Pacific region. As of January 2008 Commonwealth bank is the second largest Australian listed company on the Australian Securities Exchange.
Strength – Diversified business mix
Commonwealth Bank holds diversified business mix by providing integrated financial products and services through retail banking, premium banking, business banking, institutional banking, fund management, superannuation, insurance and stockbroking.
Strength – High Customer Satisfaction
According to the latest Roy Morgan “Main Financial Institution Customer Satisfaction” survey in April 2013, 82.6% of Commonwealth bank’s customers are satisfied with the banks products and services. Based on Roy Morgan survey Commonwealth Bank currently hold the number 1 position for customer satisfaction among the big four major banks operating in Australia.
Commonwealth Bank of Australia – Weaknesses
Weakness –
Commonwealth Bank of Australia – Strengths
Strength – Commonwealth Bank Brand
Commonwealth Bank brand is the most recognised brand in Australian financial services industry. It is a brand that has evolved over its 102 years of operation with a strong brand history. Commonwealth Bank brand is highly regarded and trusted within the Australian financial services industry. Other well known brands under the Commonwealth Bank Group includes Colonial First State, CommInsure, ASB (New Zealand), Sovereign, FirstChoice, CommSec, and Bankwest.
Strength – Scale
Commonwealth Bank has a strong presence in Australian financial services industry and has the largest customer base of any Australian bank. Commonwealth bank is the main financial institution for more than 33% of Australians who are 14 years of age or above. It provides products and services to every day Australians, corporations, government entities and other major institutions operating in Australasia. Commonwealth Bank have businesses globally in New Zealand, Europe and the Asia-Pacific region. As of January 2008 Commonwealth bank is the second largest Australian listed company on the Australian Securities Exchange.
Strength – Diversified business mix
Commonwealth Bank holds diversified business mix by providing integrated financial products and services through retail banking, premium banking, business banking, institutional banking, fund management, superannuation, insurance and stockbroking.
Strength – High Customer Satisfaction
According to the latest Roy Morgan “Main Financial Institution Customer Satisfaction” survey in April 2013, 82.6% of Commonwealth bank’s customers are satisfied with the banks products and services. Based on Roy Morgan survey Commonwealth Bank currently hold the number 1 position for customer satisfaction among the big four major banks operating in Australia.
Commonwealth Bank of Australia – Weaknesses
Weakness –