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SWOT Analysis of ICICI Bank's Strengths

ICICI Bank is the second largest bank in India in terms of total assets. It has a strong balance sheet and was the first bank to introduce mobile banking solutions and jewelry cards. It has a wide network of over 2,500 branches and 8,000 ATMs across 19 countries. However, its customer support has complaints, it has stringent loan recovery policies that have resulted in customer complaints, and its service charges are higher than competitors. While opportunities for growth exist in expanding rural banking and acquiring smaller banks, ICICI faces threats from increased competition from foreign and government-owned banks and the potential for customers to switch to other banks due to dissatisfaction.

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Sudipa Routh
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1K views2 pages

SWOT Analysis of ICICI Bank's Strengths

ICICI Bank is the second largest bank in India in terms of total assets. It has a strong balance sheet and was the first bank to introduce mobile banking solutions and jewelry cards. It has a wide network of over 2,500 branches and 8,000 ATMs across 19 countries. However, its customer support has complaints, it has stringent loan recovery policies that have resulted in customer complaints, and its service charges are higher than competitors. While opportunities for growth exist in expanding rural banking and acquiring smaller banks, ICICI faces threats from increased competition from foreign and government-owned banks and the potential for customers to switch to other banks due to dissatisfaction.

Uploaded by

Sudipa Routh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Strengths in the SWOT analysis of ICICI Bank

 ICICI is the second largest bank in terms of total assets and


market share
 Total assets of ICICI is Rs. 4062.34 Billion and recorded a
maximum profit after tax of Rs. 51.51 billion and located in 19
countries
 One of the major strength of ICICI bank according to financial
analysts is its strong and transparent balance sheet
 ICICI bank has first mover advantage in many of the banking and
financial services. ICICI bank is the first bank in India to introduce
complete mobile banking solutions and  jewelry card
 The bank has PAN India presence of around 2,567 branches and
8003 ATM’s
 ICICI bank is the first bank in India to attach life style benefits to
banking services for exclusive purchases and tie-ups with best
brands in the industry such as Nakshatra, Asmi, D’damas etc
 ICICI bank has the longest working hours and additional services
offering at ATM’s which attracts customers
 Marketing and advertising strategies of ICICI have good reach
compared to other banks in India

Weaknesses in the SWOT analysis of ICICI Bank


 Customer support of ICICI section is not performing well in terms
of resolving complaints
 There are lot of consumer complaints filed against ICICI
 The ICICI bank has the most stringent policies in terms of
recovering the debts and loans, and credit payments. They
employ third party agency to handle recovery management
 There are also complaints of customer assault and abuse while
recovering and the credit payment reminders are sent even before
the deadlines which annoys the customers
 The bank service charges are comparatively higher
 The employees of ICICI are bank in maximum stress because of
the aggressive policies of the management to win ahead in the
race. This may result in less productivity in future years

Opportunities in the SWOT analysis of ICICI Bank


 Banking sector is expected to grow at a rate of 17% in the next
three years
 The concept of saving in banks and investing in financial products
is increasing in rural areas as more than 62% percentage of
India’s population is still in rural areas.
 As per 2010 data in TOI, the total number b-schools in India are
more than 1500. This can ensure regular supply of trained human
power in financial products and banking services
 Within next four years ICICI bank is planning to open 1500 new
branches
 Small and non performing banks can be acquired by ICICI
because of its financial strength
 ICICI bank is expected to have 20% credit growth in the coming
years.
 ICICI bank has the minimum amount of non performing asse

Threats in the SWOT analysis of ICICI Bank


 RBI allowed foreign banks to invest up to 74% in Indian banking
 Government sector banks are in urge of modernizing the
capacities to ensure the customers switching to new age banks
are minimized
 HDFC is the major competitor for ICICI, and other upcoming banks
like AXIS, HSBC impose a major threat
 In rural areas the micro financing groups hold a major share
 Though customer acquisition is high on one side, the unsatisfied
customers are increasing and make them to switch to other banks

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