ICICI Bank Limited is an Indian global banking and money related administration organization headquartered in Mumbai, Maharashtra with its enlisted office in Vadodara, Gujarat. Starting in 2018, ICICI Bank is the second-biggest bank in India as far as resources and market capitalization. Let’s do the SWOT Analysis of ICICI Bank to get a proper analytic view of the brand’s strengths, weaknesses, opportunities, and threats (SWOT).

SWOT Analysis of ICICI Bank

Strength

  • ICICI is the second biggest bank as far as absolute resources and piece of the overall industry
  • All our resources of ICICI is Rs. 4062.34 Billion and recorded the most extreme benefit after the assessment of Rs. 51.51 billion and situated in 19 nations
  • One of the significant quality of ICICI bank, as indicated by budgetary experts, is its solid and straightforward monetary record
  • ICICI bank has first-mover advantage in huge numbers of banking and money related administrations. ICICI Bank is the first bank in Quite a while to present total portable financial arrangements and gems card
  • The bank has PAN India nearness of around 2,567 branches and 8003 ATM’s
  • ICICI Bank is the first bank in Quite a while to connect the way of life advantages to banking administrations for selective buys and tie-ups with best brands in the business, for example, Nakshatra, Asmi, D’damas and so on
  • ICICI bank has the longest working hours and extra administrations offering at ATM’s which draws in clients
  • Promoting and publicizing methodologies of ICICI have great reach contrasted with different banks in India

Weaknesses

  • Client care of ICICI segment isn’t performing great as far as settling objections
  • There are part of purchaser objections documented against ICICI
  • The ICICI bank has the most stringent arrangements regarding recouping the obligations and advances and credit installments. They utilize outsider organization to deal with recuperation the executives
  • There are additionally grievances of client ambush and misuse while recouping and the credit installment updates are sent even before the cut off times which disturbs the clients
  • The bank administration charges are nearly higher
  • The representatives of ICICI are the bank in greatest pressure in light of the forceful strategies of the administration to win ahead in the race. This may bring about less profitability in future years

Opportunities

  • Banking division is relied upon to develop at a pace of 17% in the following three years
  • The idea of sparing in banks and putting resources into money related items is expanding in country regions as over 62% level of India’s populace is still in provincial regions.
  • According to 2010 information in TOI, the all outnumber b-schools in India are more than 1500. This can guarantee ordinary stock of prepared human power in money related items and banking administrations
  • Inside the next four years, ICICI bank is wanting to open 1500 new branches
  • Little and non-performing banks can be gained by ICICI on account of its budgetary quality
  • ICICI Bank is relied upon to have 20% credit development in the coming years.
  • ICICI bank has the base measure of non-performing resources

Must Read- Best Strategies for the marketing plan.

Threats

  • RBI enabled outside banks to put up to 74% in Indian banking
  • Government part banks are in the inclination of modernizing the abilities to guarantee the clients changing to new age banks are limited
  • HDFC is the significant contender for ICICI, and other forthcoming banks like AXIS, HSBC force a significant danger
  • In-country zones the smaller scale financing bunches hold a significant offer
  • In spite of the fact that client obtaining is high on one side, the unsatisfied clients are expanding and do them to change to different banks

Must Read- SWOT analysis of the Banking Industry

Tell us what you think? Did you find this article interesting?      
Share your thoughts and experiences in the comments section below.

One thought on “SWOT Analysis of ICICI Bank

Leave a Reply