Bendigo and Adelaide Bank SWOT and PESTLE Analysis
COMPANY PROFILE -Bendigo and Adelaide Bank
Business Sector :Banking and Financial Services
Operating Geography :Victoria, Australia, Global
About Bendigo and Adelaide Bank :
Bendigo and Adelaide Bank, an Australian bank, specialises in retail banking. with its headquarters situated in Bendigo, Victoria, Australia. To improve living conditions in the Bendigo goldfields during the Victorian gold rush, the company was founded in 1858 as a fixed-term (terminating) building society. In 2007, Bendigo merged with Adelaide Bank. Bendigo and Adelaide Bank Limited is the new name of the corporation, which went into effect on March 31, 2008. The bank offers wealth management services as well as products for individuals, small businesses, and communities. Its products include cash flow management, insurance, forex services, and pension scheme products. Its offerings also include personal and business transaction and savings accounts, money market deposits, term deposits, cards, lending solutions that include loans and financing services like home, personal, and equipment financing as well as debtor and trade financing and overdraft solutions. Community banking services from Bendigo and Adelaide Bank include charitable services, sponsorships, and scholarships. Its wealth management services include trading, private banking, retirement planning, risk management, and estate planning. Through its Adelaide bank business, Bendigo and Adelaide Bank provides services for portfolio funding, mortgage management, and mortgage broking. The bank conducts business in Australia via a network of branches, online banking, and ATMs. Bendigo and Adelaide Bank announced in June 2022, that it had renewed its five-year agreement with Australia Post for its Bank@Post services. Through this agreement, customers of the Bank will have access to banking services at more than 3,500 Post Offices nationwide until 2027.
Bendigo and Adelaide Bank's USP lies in its being one of Australia's largest banks, with more than 7,000 workers assisting over 1.9 million customers in reaching their financial objectives. The mission statement reads, "building and improving the prospects of our customers, communities and partners to develop sustainable earnings and growth for our business".
Bendigo and Adelaide Bank Revenue :
A$ 1,805.4 million - FY ending 30th June 2021 (y-o-y growth 10.4%)
A$ 1,634.4 million - FY ending 30th June 2020
Competitive Analysis of Bendigo and Adelaide Bank
Strengths | Weaknesses |
1. Network of brands of the bank provide wide range of products and services to customers. 2. Trusted brand with more than 100 years of operation and more than 500 branches around Australia. 3. Customer first approach of the bank has helped it in growing customer numbers. 4. Association with fintech companies has helped in strengthening digital banking arm. | 1. Low growth in the business lending segment. 2. The lending portfolio is dependent upon the residential segment. 3. Fluctuations in the financials of the company. 4. Struggling to achieve growth in the market share. |
Opportunities | Threats |
1. Drive growth in the digital banking segment of the company. 2. Innovate new product offerings for the consumers. 3. Increase lending provisions to SMEs. | 1. Rise in covid-19 cases can increase in financial arrears. 2. Economic downturn can affect certain segments to which the business of the company is exposed. 3. Change in regulations can affect the operations of the company. |
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Detailed SWOT Analysis of Bendigo and Adelaide Bank
Strength
1. Network of brands of the bank provide wide range of products and services to customers: Bendigo Bank, Adelaide Bank, Rural Bank, Delphi Bank, and other brands are all part of the Bendigo and Adelaide bank group. More than 1.9 million retail clients can access the goods and services of Bendigo Bank through a nationwide network of just under 500 branches and agencies. Although Bendigo Bank has been in business for 160 years, its core mission has not changed: to contribute to and not to detract from, customer and community prosperity. In 2007, Adelaide Bank, which has been in business for 100 years, amalgamated with Bendigo Bank. Adelaide Bank has made a name for itself as a market leader in home loans. The range of house loans and related solutions offered by Adelaide Bank have been created with consumers who source home loans through a mortgage manager or broker. Rural bank of the group is committed to provide specialized banking services to the agribusiness participants and individuals. The banking group benefits from the banking capabilities of the Adelaide and Bendigo bank.
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Weakness
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Opportunity
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Threat
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Major Competitors :
Major Brands :
- Bendigo Bank
- Adelaide Bank
- Rural Bank
- Delphi Bank
- Sandhurst Trustees
- Alliance Bank
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TABLE OF CONTENTS
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Check Out Analysis of Other Relevant Companies
References used in Bendigo and Adelaide Bank SWOT & PESTLE Analysis Report
1. Annual report - https://www.bendigoadelaide.com.au/globalassets/documents/bendigoadelaide/investorcentre/results-and-reporting/annual-reviews/annual-financial-report-2021.pdf
2. Our Brands - https://www.bendigoadelaide.com.au/about-us/our-brands/
3. Investor Presentation - https://www.bendigoadelaide.com.au/globalassets/documents/bendigoadelaide/investorcentre/results-and-reporting/investor-presentations/half-year-results-presentation-2021-22.pdf
4. SME Recovery Loan Scheme - https://treasury.gov.au/coronavirus/sme-recovery-loan-scheme
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SWOT & PESTLE.com (2024). Bendigo and Adelaide Bank SWOT and PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/bendigo-and-adelaide-bank/ [Accessed 08 Dec, 2024].
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Bendigo and Adelaide Bank SWOT and PESTLE analysis has been conducted by Sushil Kumar Panda and reviewed by senior analysts from Barakaat Consulting.
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