1. Introduction
1.1 Company Background
A
ccording to the official website of the Bank of Abyssinia (BoA) (Abysinia, 2015) “the present-day Bank of Abyssinia was established on February 15, 1996 (90 years to the day after the first but defunct private bank was established in 1906 during Emperor Menelik II) in accordance with 1960 Ethiopian commercial code and the Licensing and Supervision of Banking Business Proclamation No. 84/1994.” BOA established with 131 shareholders and 32 staffs. Besides to this the bank started its operation with 17.8 million paid up and 50 million authorized capital. (Abysinia, 2015)
1.2 Vision, Mission and Values
Vision
According to Bank of Abysinia annual report (Abysinia, 2014), As “Abysinia “ is the ancient name of our great nation and that was the pioneer bank of the land the vision of the bank of Abyssinia is (BOA) to live up to this legacy through continuous innovation and provision of world class banking service.
Mission
To provide a full-fledged domestic and international banking service through qualifies and motivated employees, utilization of modern technology and through socially and ecologically responsible practices as well as ensuring profitability and growth. (Abysinia, 2014)
Values
As per the 2013/2014 annual report (Abysinia, 2014) BoA guided by the following values Integrity, honesty , loyalty, Efficient customer service, Commitment, Equal employment opportunity, Employee satisfaction, Team Sprit, Good corporate Governance,
Barclays envisions itself as a leading transatlantic bank. It aims to generate sustainable value for its shareholders by emerging as one of the biggest consumer, corporate and investment banks catering some 24 million customers in the Personal, Wealth and Business Banking domains. Barclays aims to achieve this through its two business divisions namely Barclays UK and Barclays International. Following are some key strategic aims and objectives of the Group.
3. Customer service has been the emphasis from inside out since the bank was formed in 1955. Up to now, this philosophy is carrying out not only in the branch, on the phone, but also in the social media. The TD series of the “Bank Human” commercials (https://youtu.be/IrMzYJCvgkg?list=PLTU0DAa2Moxy_aaWrVPR-964SMpHE7M8w) obviously highlighted their mission to make banking human by their perceptive customer services.
Delivering on the bank's new competitive positioning also required changes to the intangible aspects which are not visible to customer.
At the time where competition became a reality for banks, Jyske Bank decided to make a major personality transformation from a traditional bank to a unique and different one. The new concept emerged from the values of society and the changing economy, and its main goal was to make banking more fun and less pretentious. This report will discuss the case study of “People, Service & Profit at JYSKE Bank” and will provide a detailed analysis of their marketing mix and how they modernized the 7 P’s to suit the changing customer needs.
. The CBE is located in the Ethiopian capital Addis Ababa, which is the center for business in the country. The bank was established in 1963 and is the first bank after Ethiopia’s victory over fascist Italy in
With the outstanding performance through the years of UOB, its mission statement has been realistic and it certainly have helped the company to stay on track and to achieve its vision of being a premier bank, as it has eventually became the top leading bank Asia and the Asia Pacific region. The mission has greatly equipped the bank with the right attitude and goals to help achieve its vision. By being committed to providing quality products and excellent customer service, it paved the way for great excellence which is a key factor to become an outstanding bank in comparison with the other competitors.
Thus, each bank needs to differentiate their product offers to customer, strengthen their portfolio, and improve services, etc depending on its strategies.
This model is relating to RBS where they said that RBS believes every decision and action is shaped by the purpose, vision and the value of RBS. RBS purpose is to serve their customers well and do the right things which includes, environmental, social, and ethical risks. Building a more sustainable RBS by putting customers first. RBS strategy based on customers trusting this bank.
William, M (2003). Barbados: a brief look at Barbados’ financial system. Euromoney,. 31-34. Retrieved from http://search.proquest.com/docview/198920608?accountid=12085
“We aim to become a super regional bank. This involves growing our presence in the Asia pacific region and sourcing 25-30% of earnings from our Asia Pacific Europe and America division by 2017, while also being very focused on growth in our core domestic businesses in Australia and New Zealand.”
BanInter was the second largest privately held commercial bank in the Dominican Republic before collapsing in 2003 in a spectacular fraud tied to political corruption. The resulting deficit of more than US$2.2 billion was equal to 12% to 15% of the Dominican national gross (LatinNews, 2013).
The CBA is Australia’s largest retail bank and offers clients a choice of goods and services.
The African Development Bank Group (AFDB) is a multilateral development finance institution established to contribute to the economic development and social progress of African countries. The AfDB was founded in 1964 and comprises three entities: The African Development Bank, the African Development Fund and the Nigeria Trust Fund. The AFDB’s mission is to fight poverty and improve living conditions on the continent through promoting the investment of public and private capital in projects and programs that are likely to contribute to the economic and social development of the region. The AFDB is a financial provider to African governments and private companies investing in the regional member countries (RMC). While it was originally headquartered in Abidjan, Côte d'Ivoire, the bank's headquarters moved to Tunis, Tunisia in 2003, due to the Ivorian civil war; before returning in September
In 1996, Citibank was an emergent banking institution attempting to increase its market share in the competitive Los Angeles area. In order to do so, the bank’s strategy was to focus slightly less on their financial growth, and much more on providing “a high level of service to its customers”. Management viewed this paradigm shift as “critical to the long term success of the franchise”.
Banking is an important part of the Bahamian economy because it generates a source of income for The Bahamas. In fact, banking which is a TERTIARY industry is the second largest industry in The Bahamas. The first bank in The Bahamas was the Government Savings Bank established in 1836. It was also known as the Public Bank of The Bahamas but closed in 1886. In the same year of its collapse, a Government Savings Bank was established under the control of the Post Office Department. The Bank of Nassau was then opened in 1889 and for nearly thirty years played an important role in the commercial life of The Bahamas. However, due to mismanagement, it failed in 1916.