SWOT Analysis of Mercantile Bank Limited

Abstract

The purpose of doing a SWOT analysis is to have a better understanding of the position that your firm has in the market. The collecting of intelligence and its use in tactical settings go hand in hand, and this method excels at both of these tasks. Your ability to beat your competitors and keep consumers may be greatly improved by including a competitive study in your business strategy. The process of purchasing assets is simplified, a better understanding of the plan for acquiring new customers is achieved, and investment finance is made more easily accessible. In addition to this, there is a possibility that it will have a positive impact on the performance and profitability of the organization. The objective of the study is to find out what factors, both internal and external, have an effect on the rate of expansion of Mercantile Bank Limited's competitive market edge within the bank business in Bangladesh. The use of a SWOT analysis enables Mercantile Bank Limited to get an understanding of the factors that impact not just the market for banking services but also the factors that influence Mercantile Bank Limited's own company. It is necessary to detect the most significant components that may assist firms identify risks and opportunities in a competitive marketplace by doing a SWOT analysis. This may be done in a number of different ways. According to the findings of many studies, competing financial institutions in Bangladesh are now in the lead. In addition, Mercantile Bank Limited is going to need to take on extra marketing difficulties in order to not only build the firm but also dominate the sector. The primary drivers for the expansion of Mercantile Bank Limited that have been taken into consideration in this research are the inability to provide services to clients in accordance with the demands of those consumers and the provision of digital banking services by other businesses. On the other hand, when the report was going to be completed, certain recommendations were made in order to improve Mercantile Bank Limited's position in the banking market of Bangladesh.