They have seen stock plummet from roughly $35 in 2013 down to its current amount near $24. They are still a very profitable company, but relative to last year, profits fell close to 7%. How can they adjust the pricing strategy in retail banking to continue to offset and outpace the profit slowdown being seen on the business banking side?
For my recommendations, I will be holding true to the phrase “keep it simple, stupid” (more for me than anyone else). In consumer banking (retail banking), the major products offered are bank accounts, home loans, personal loans, and credit cards. Under each one of these types of banking are multiple products and services, but for the sake of these recommendations we will keep it high level.
The primary purpose for consumers to start a bank account is for their peace of mind in knowing...
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- The Westpac Banking Corporation are facing tough decisions and will need to find a way to right the ship. Over a five-year period beginning in the 2010-2011 reporting period, they have experienced a negative compound annual growth rate that is annualised at -1.8%. They have seen stock plummet from roughly $35 in 2013 down to its current amount near $24. They are still a very profitable company, but relative to last year, profits fell close to 7%. How can they adjust the pricing strategy in retail banking to continue to offset and outpace the profit slowdown being seen on the business banking side.... [tags: Bank, Banking, Money, Interest]
706 words (2 pages)
- Westpac began trading on 8 April, 1817 as the Bank of New South Wales. In the year 1982, the then Bank of New South Wales merged with the Commercial Bank of Australia, naming it as it is today, Westpac Banking Corporation. Westpac has branches and affiliates throughout Australia and New Zealand, contributed by merges throughout the previous years, and the Pacific region, and key financial centres around the world including London, New York, Hong Kong and Singapore. As at 31 March 2008, Westpac Group had a workforce of approximately 29,000 people around the globe and Westpac Banking Corporation had global assets of $402 billion1.... [tags: Business Analysis Management]
1009 words (2.9 pages)
- Commercial banking is a monetary institution that offers various services. These services include auto loans, basic investments, certificates of deposit, business loans and savings accounts. Functions of commercial banking varies but are divided into two categories being primary and secondary. Primary functions include accepting deposits, granting loans and granting advances. Secondary functions include overdraft facility, discounting bills of exchange, and agency functions. The commercial bank plays a very crucial role in the economy being the money dealer.... [tags: Money, Bank, Fractional-reserve banking, Banking]
944 words (2.7 pages)
- The Multinational Corporation Introduction A multinational corporation or worldwide enterprise  is an organization that owns or controls production of goods or services in one or more countries other than their home country.  It can also be referred as an international corporation, a "transnational corporation", or a stateless corporation.  One of the first multinational businesses was the India Trading  company and was created around 1600, around 1602 the Dutch India Trading company was created and remained the largest corporation in the world for nearly 200 years.... [tags: Multinational corporation, Corporation]
708 words (2 pages)
- 1.0 INTRODUCTION 1.1 Background Study The Islamic banking and finance sector is a fast growing industry, where it expanding and getting stronger each and every year. According to Tahmoures (2013), there are over 300 Islamic banks and financial organizations successfully running their business from Dubai, Los Angeles, London, Karachi, Jakarta, Cairo, Riyadh and many other cities in the world. The Financial Times estimates the value of the industry in overall are exceeding $1 trillion (Christophe, Rima, Laurent, Financial Times Special Report, 2010).... [tags: Islamic Banking Essays]
1937 words (5.5 pages)
- According to the Federal Reserve, 52% of smartphone owners with a bank account use some version of mobile banking. The First Data Corporation states that, “94% of consumers under 35 years old are active users of online banking.” Our team decided to conduct our own surveys with the Texas A&M student body and out of over 100 participants we found that about 85% prefer to use some form of credit over cash and over 90% use mobile banking. We also noticed that 80% of participants claimed to have either lost or misplaced their credit card at some point in time.... [tags: Marketing, Bank, Online banking, Money]
759 words (2.2 pages)
- Introduction Households, businesses and governments all use banking of one form or another and chances are the bank you use has been part of a consolidation. Competition in the banking industry is extremely intense and one method banks use to improve their competitive advantage, increase their market power, grow their customer base, increase revenues and hopefully achieve greater profits is through consolidations. This report discusses consolidation in the banking industry, including an overview of the industry, explanation of mergers and acquisitions, motivation behind and factors affecting consolidations, as well as a look at some significant consolidations at well-known financial institut... [tags: insurance, comercial, asset banking]
1859 words (5.3 pages)
- Hong Kong & Shanghai Banking Corporation (HSBC) 1. The HSBC Group - The HSBC Group is named after its founding member, The Hong Kong and Shanghai Banking Corporation Limited, which was established in 1865 to finance the growing trade between Europe, India and China. - Is based in Hong Kong, where the bank’s business has been physically conducted, and with a large network of branches in Asia, a very large London branch office, and several US branches, plus a subsidiary bank in California and a representative office in New York.... [tags: Business Analysis Strategy]
1854 words (5.3 pages)
- Introduction A bank refers to a financial institution that accepts deposits and channels the money into lending activities (Lewis, 2009). Ethics refers to the principles of right and wrong that are accepted by an individual or a social group ((Lewis, 2009).) Conceptually, ethics refers to well base standards of right and wrong that prescribe what humans ought to do, usually in terms of rights, obligations, benefits to society, fairness, or specific virtues (Safakli, 2005). It’s the integrity measure, which evaluates the values, norms and rules that constitute the base for individual and social relationships, from a moral perspective (Smith and Smith, 2002).... [tags: Financial Institutions]
2485 words (7.1 pages)
- Banking So Much for That Plan "More than 70% of commercial bank assets are held by organizations that are supervised by at least two federal agencies; almost half attract the attention of three or four. Banks devote on average about 14% of their non-interest expense to complying with rules" (Anonymous 88). A fool can see that government waste has struck again. This tangled mess of regulation, among other things, increases costs and diffuses accountability for policy actions gone awry.... [tags: essays research papers fc]
1208 words (3.5 pages)