COMPANY PROFILE -U.S. Bancorp
Business Sector :Banking and Financial Services
Operating Geography :United States, North America, Global
About U.S. Bancorp :
US Bancorp operates as an American bank holding company, headquartered in Minneapolis, Minnesota. The company offers financial services, including lending and depositary services, cash management, trust and investment management and foreign exchange. Bancorp’s subsidiaries engage in the provision of products and services to individuals, corporations, institutional organizations and governmental entities. The company has a diverse workforce of approximately 77000 employees as of 2023. U.S. Bancorp was founded in 1929 after acquisitions of several major regional banks in the West and Midwest. The company was officially formed when Finstar bought US Bancorp in 2001. US Bancorp has adopted systematic strategies to efficiently develop its services with changing times. The company is dedicated to uplifting the various communities and promoting environmental sustainability. U.S. Bank is a national leader in financing renewable energy and they have invested $22 billion in environmentally-friendly business endeavors.
US Bancorp’s unique selling proposition lies in being one of the world’s most ethical companies 2020 and America’s 11th largest financial services holding company. Its mission statement reads, “We believe in putting people first, and our dedication to making ethical decisions and doing the right things is at the heart of what we do. We work to meet our customer’ business and personal banking needs with competitive products and services, convenient access to their accounts and proven stability backed by industry-leading financial metrics.”
U.S. Bancorp Revenue :
$ 24,302 million – FY ending 31st December 2022
$ 22,827 million– FY ending 31st December 2021
Competitive Analysis of U.S. Bancorp
The SWOT analysis for U.S. Bancorp is presented below in a table followed by the detailed analysis report.
| Strengths | Weaknesses |
1. Leading commercial bank with strong business model
2. Strong reputation differentiates it from its competitors
3. Strong performance on shareholder returns and maintaining financial discipline
4. Highly diversified business lines backed by strong revenue growths
| 1. Failure to implement effective anti-money laundering practices
2. Limited global presence compared to peers
3. Fined for illegally exploiting personal data to open sham accounts for unsuspecting customers
|
| Opportunities | Threats |
1. Asset management will be the game changer in terms of revenue for U.S. Bancorp
2. Investment banking expansion to increase market share and profit
3. Investments in technological capabilities for enhancing customer experience
4. Embracing design thinking to gain insight into customer needs
5. Strategic acquisitions and partnerships to facilitate growth
6. U.S. Bancorp adds portfolio optimization capabilities for CLO clients
| 1. Competition from emerging challenger banks
2. Impact of pandemic on economy and interest rates
3. Increasing instances of cyber-security breaches
|
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Detailed SWOT Analysis of U.S. Bancorp
Strength
1. Leading commercial bank with strong business model: U.S. Bancorp is one of the top 10 public banks of America headquartered in Minneapolis. It was setup in September 1968. Its network of almost 3100 branch and around 5000 ATMs across the country tells the story of diversification. It provides products and services to consumer and commercial businesses with products like credit, debit, treasury management, wealth planning, investments, trust services, asset management, global fund services, etc. The Bank’s commitment is to operate with ethics and integrity, and it focuses on building trust in anything it does, and their efforts get recognized from leading organizations. US Bancorp has received many awards and accolades and ranked in many international business magazines. Fortune has ranked US Bancorp, 117th in Fortune 500 annual list. It is also recognized as the Most Admired Company by Fortune. The Ethisphere institute also recognized US Bank as one of the 2022 World’s Most Ethical Companies. It also got featured in Forbes Best Bank in America. It is also named as Diversity Inc.’s Top 50 companies for our focus on diversity, equity and inclusion.
The remaining section under “Strength” is available only in the 'Complete Report' on purchase.
Weakness
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Opportunity
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Threats
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The PESTLE / PESTEL analysis for U.S. Bancorp is presented below in a table followed by the detailed analysis report.
| Political | Economical |
1. US China trade war has been impacting banking sector
2. US banking industry is going through a severe crisis
| 1. Impact of lower commercial and consumer spending
2. Interest rate cuts to impact profitability
3. Risks of US economy caving into a recession
|
| Social | Technological |
| 1. Increasing trend of work from home will require advanced interaction tools | 1. Autonomous vehicle trend is gaining traction
2. Digital collaboration to enhance consumer experience
3. Embedded technology transforming the way businesses send and receive payments
|
| Legal | Environmental |
1. The US Department of Justice’s lawsuit against AECOM will cause complications
2. Sued for violating regulations
| 1. Most corporate clients have set net zero targets
2. Concerns regarding PFAs polluted water will require action
|
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Detailed Pestle Analysis of U.S. Bancorp
Political
This section is available only in the 'Complete Report' on purchase.
Economic
This section is available only in the 'Complete Report' on purchase.
Social
1. Shifting of traditional banking users towards digital and neo-banking: Evolution of technology has brought in neo-banks. Neo-banks are digital banks without physical branches. Customer behavior has been changing drastically. With the advent of neo-banks, market share of retail banking has been affected. U.S. Bancorp has admitted that 70% of the transactions are happening on digital platforms. US neo-bank Chime which was looking to increase its market share will have to compete with leading competitors like N26 and Revolut who are new entrants with better platform. Bancorp is also leveraging and investing on data analytics, artificial intelligence and machine learning. These trends show that consumers are shifting from traditional banks to digital banks or neo-banks.
The remaining section under “Social” is available only in the 'Complete Report' on purchase.
Technological
This section is available only in the 'Complete Report' on purchase.
Legal
This section is available only in the 'Complete Report' on purchase.
Environmental
This section is available only in the 'Complete Report' on purchase.
U.S. Bancorp SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
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| U.S. Bancorp Covid-19 Impact Analysis |
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| U.S. Bancorp BCG Analysis |
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| U.S. Bancorp Segmentation, Targeting and Positioning (STP) Analysis |
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| U.S. Bancorp Ansoff Matrix Analysis |
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Check Out Analysis of Other Relevant Companies
References used in U.S. Bancorp SWOT & PESTLE Analysis Report
1. Annual Report - https://ir.usbank.com/static-files/355e3a3e-c0e9-4eeb-9a85-6e96cb448098
2. CFPB Fines US Bank $37.5 Million for Illegally Exploiting Personal Data to Open Sham Accounts for Unsuspecting Customers - https://www.consumerfinance.gov/about-us/newsroom/cfpb-fines-us-bank-37-5-million-for-illegally-exploiting-personal-data-to-open-sham-accounts-for-unsuspecting-customers/
3. Global assets under management set to rise - https://www.pwc.com/ng/en/press-room/global-assets-under-management-set-to-rise.html
4. Fed Approves U.S. Bancorp Acquisition of MUFG Union Bank - https://www.wsj.com/articles/fed-approves-u-s-bancorp-acquisition-of-mufg-union-bank-11665763370
5. US Bank to cut ties with private prison industry - https://www.sanluisobispo.com/news/business/article272814670.html
The detailed complete set of references are available on request in the 'Complete report' on purchase.
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U.S. Bancorp SWOT and PESTLE analysis has been conducted by Akshay Mohan and reviewed by senior analysts from Barakaat Consulting.
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