A strategic analysis of Stanbic Bank Tanzania a Case Study
Key Learning Outcomes
- Understand the concept of strategic analysis, what it is, and how to do it effectively, Evaluate an organization’s working environment and how it affects its operations
- Use the strategic analysis of Stanbic Bank Tanzania case study to understand how internal and external factors can influence a company’s strategic position in a market
- Understand the concept of strategy and how to apply it to a real company
1.0 INTRODUCTION
Stanbic Bank Tanzania was established in May 1995 and is part of Africa’s largest banking group by assets, Standard Bank Group and it specialized in providing services to public and private sector corporations, diplomatic missions, and international organizations. Stanbic Bank Tanzania belongs to Standard Bank group which is a leading financial services provider that supports Africa’s growth and development.
The establishment of the group was spearheaded by a number of businessmen in 1857 following the economic prosperity of Port Elizabeth which was the major port used in the exportation of wool. John Paterson was behind the idea of establishing the Standard Bank of Port Elizabeth but the idea wasn’t endorsed due to the fear of competition from the banks that existed at the time. John Paterson tried looking for help from the investors from Britain which was a success because the bank was established later on in 1862. The bank was fully registered and incorporated as a limited liability company. This piece of work is going to critically study Stanbic Bank Tanzania.
The bank empowers their customer’s financial success and well-being by providing services that will empower their financial growth such as online banking, savings and investment, insurance, loans, and a Plus Rewards Programme. The revenue of the group grew by 31 percent resulting from the growth of both net interest and non-interest revenues. The mission of Stanbic Bank Tanzania is to help its customers tighten their financial capacities, from banking and borrowing to saving and investing. This essay is going to use the analytical tools of PESTLE, SWOT, and Porter’s Five Forces to analyze the business environment of Stanbic Bank Tanzania and find out how it has impacted its strategic decisions and growth trajectory in the country over the last few years between 2020 and 2023.
This strategic analysis of Stanbic Bank Tanzania will further seek to answer core questions such as; what are the strengths of Stanbic Bank Tanzania? what are the weaknesses of Stanbic Bank Tanzania? This analysis will also look at the company’s general strategies and assess how the company has used its strengths and opportunities to compete effectively in its market.