SWOT Analysis of Axis Bank focuses on strengths, limitations, opportunities, and Threats. Axis Bank is one of the largest private sector banks in India. The strengths and weaknesses of Axis Bank Swot are internal factors, while opportunities and risks are external factors. SWOT Analysis is a validated management tool that enables a bank like Axis Bank to measure its business & performance with competitors and the industry. As of 2020, Axis Bank is among the top names in the financial and banking sector. Axis Bank is the third-largest private sector bank in India and provides a range of financial products. Registered Office of Axis Bank is located in Mumbai, (M.H.) India.
Axis Bank has about 4800 branches and 17801 ATMs. Axis Bank has 4917 cash recyclers throughout India and has 9 internationally located offices. The reported Market capitalization of Axis Bank for the year 2020 is about 2.31 trillion ( US$ 32 billion). Axis Bank provides banking services to retailers, small, medium and large-sized enterprises. Axis Bank has the largest private bank ATM network in India. It also operates an ATM at one of the highest places in the world in Thegu, Sikkim, at an altitude of 4,023 meters (13,200 ft ) above sea level.
Let’s discuss SWOT Analysis of Axis Bank
Strengths in the SWOT Analysis of Axis Bank – Axis Bank SWOT Analysis
- Axis Bank was ranked is the fastest growing Bank in the Private Sector. Financial Express and KPMG have rated Axis Bank as the best bank on the basis of 26 parameters.
- Axis Bank has 4800 regional branches and 17801 ATMs.
- Banks ‘ financial positions are rising at a rate of 20% last year, which is a big positive sign for every country.
- Operating sales of 2.7 billion US dollars in 2019.
- Total assets of US$ 110 billion in 2019.
- Gross Profit Rs. 1677.90 Crores.
- Axis Bank has a strong picture of the urban population. Axis Bank is rising well in the Indian banking sector.
- Broad array products and services are provided by the Bank.
- Decent penetration in rural areas has boosted the industry.
- One of India’s largest private-sector funding for agricultural loans is Retail Agri & Corporate Agri.
- Great online services provided by Axis Bank, such as net banking, smartphone phones, etc.
- Effective ads and branding have helped the brand to expand.
Weaknesses in the SWOT Analysis of Axis Bank – Axis Bank SWOT Analysis
- Gaps – primarily focused on corporate banking, wholesale banking, treasury services, retail banking.
- Global branches account for just 8 % of the total assets. The bank has recently begun to concentrate its attention on personal banking and rural areas.
- AXIS bank’s share prices are continually fluctuating at higher margins, leaving investors in an awkward position most of the time.
- There are a lot of efficiency differences in the financial product as well as reaching out to the consumer.
- There are many fraudulent activities involving credit cards, as banks process the acceptance of credit cards even without the verification of the original documents.
- Their financial advisors are not smart enough to direct consumers into the right investment.
- Customer support needs to change a lot in order to contend with other big players.
- Lower branch number relative to its rivals.
- Axis Bank has minimal market share due to high competition in the banking sector.
Opportunities in the SWOT Analysis of Axis Bank – Axis Bank SWOT Analysis
- The rural market is also a major market for Axis Bank.
- Acquisitions for filling the void. Various future prospects in financial markets, such as mutual funds, maybe exploited in the Bond Market.
- The internet banking network can be supported.
- UPI payments and mobile wallets can be promoted.
- The number of e-transactions rose from 0.7 million to about 2 million. Geographical extension to the rural market – 80% of them do not have access to structured lending. 46 percent of them use informal lending platforms. The bank should target the rising demand for business loans and vehicle loans. 24 percent of unregulated money lenders.
- Since it’s a new era of banking, there are a lot of opportunities to provide innovative banking solutions techniques compared to established major players.
- The Assets of Axis Bank are rising at a much faster growth rate of 9%.
- AXIS Bank ‘s definition of ATM had a strong response in terms of attracting new customers to the personal banking market.
Threats in the SWOT Analysis of Axis Bank – Axis Bank SWOT Analysis
- RBI control of interest rates.
- Regulation of the State on the basis of pandemic circumstances.
- Foreign Investments in Banking Sector.
- Government schemes are most frequently run only by SBI, Indian Banks, Punjab National Bank, etc.
- ICICI and HDFC are placing their aggressive marketing campaigns at significant risk in terms of their growth in the consumer base.
- New banking license issued by Reserve Bank Of India.
- Foreign banks entering India could reduce the presence of Axis Bank.
- Competing banks are growing their operations in India.
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