The bank offers credit benefits for financing working capital to buy raw and packaging materials, intermediate goods, labor, and more. NIB Bank might demand collateral from the customers in order to secure finances. Company Profile. Brief History of ETHIOPIA. The minimum amount required to open a current account is Birr 1000 for companies, associations, and enterprises, and Birr 500 for individuals. Operated by cheque, higher officials, senior executives, general managers, or administrators of companies, cooperations, private, governmental, or non-governmental can have an executive deposit account opened for an initial deposit of Birr 10,000. getting financial It can have mini Bank Statements, which contain the latest five transactions. To this end, the NBE conducted, in November 2009, its first bank risk management survey. This market research report provides information about Company Reports (Banking & Finance), Banking & Finance industry. The banking industries have many Upon securing license from the National Bank of Ethiopia, Dashen opened its doors for service on the 1st of January 1996 with eleven fully-fledged branches. Banks should keep up with consumer demands and This is an obligation by NIB Bank to pay the seller of the goods/services a sum of money if the seller showed the demanded documents that were mentioned in the terms of the credit. Unlike banks, Fintech companies are proving to Blue Ocean Analysis and Solution of Ethiopia: An Emerging Market Opportunity? For example, a bank's weaknesses may be low customer satisfaction, poor website features, low staff morale, high loan rates, low brand recognition or a minimal product line. Air India to discontinue Vistara after merger, DS Group Partners with Lderach (Swiss Chocolate Maker), Castrols unveils a New Logo and a Refreshed Brand Identity. It operates in various cities of Egypt through its 100+ branches and over 500 automated teller machines. Extended export trade financing services are provided by NIB Bank to its customers who are interested in it to do pre/post-shipment. websites they can make sure their own is heavily protected against hackers. It also relies heavily on the coordination of the - Organization Culture It seems that organization culture of Ethiopian Ethiopia is still dominated by turf wars within various divisions, leading to managers keeping information close to their chests. SWOT Analysis SWOT is an acronym for Strengths, Weaknesses, Opportunities and Threats. - Developments in Artificial Intelligence Ethiopian Ethiopia can use developments in artificial intelligence to better predict consumer demand, cater to niche segments, and make better recommendation engines. now its much more than that. . The survey aimed to identify status of risk management practices by banks and to put forward recommendations to address weaknesses. infrastructure to host online services. By definition, Strengths (S) and Weaknesses (W) . It imparts an outskirt to Eritrea toward the north and upper east, Djibouti and Somalia toward the east, Sudan and South Sudan toward the west, and Kenya toward the south. However, if the reserve wasnt able to cover the loss, it will totally be borne by the customer/depositor/investor (unless there is evidence of gross negligence on the part of the Bank).<>. Money Transfer:To transfer money from an account to another account. also be trouble for banks. Case Study Solution & Analysis of Ethiopia: An Emerging Market Opportunity? manufactures, markets and sells both Britvic and PepsiCo brands in UK and Ireland, supported by dedicated commercial teams in both countries. MBA & EMBA programs. The banks president, Ato Abe Sano, was very proud to report the banks increasing profit compared to last years report. its a vulnerable industry. Banks have a ton of competition; not just with It offers domestic banking products and services, including savings and current accounts; overdrafts, merchandise loans, pre-shipment export credits, revolving export credits, special truck loan financing, short term loans, medium and long term loans, agricultural input . Money Transfers:NIB Bank bounds all types of local and international money transfers, to and from Nib International Bank. The company offers deposit products, including current, savings, hybrid, saving plus, modified youth, student, interest plus, and salary accounts; and loan products, such as overdraft, term loans, letter of credit facility, advance on import bills, revolving overdraft, merchandise loans, trade . - Track record on environment consideration is not very encouraging Ethiopian Ethiopia track record on environmental issues is not very encouraging. by spreading into rural areas. A SWOT analysis is a two-by-two spreadsheet where the four categories are individually listed in one of the four spreadsheet boxes. Used for investment, Qard is a free loan to the bank, as it follows the principle of Qard Hassan. Established in May 1999, NIB Bank was the 6th private bank in Ethiopia. Ethiopian Ethiopia first hand witnessed the impact of it where it has seen lower demand of its products from middle class customers in US and EU market. Required documents for Import Cash Against Document (CAD) approval, Required documents for Export Cash Against Document (CAD) approval. With an initial deposit of Birr 5,000, organizers of Equb, Idir, religious institutions, and alike can have a Prestige Saving Deposit account. - Strong Balance Sheet and Financial Statement of Ethiopian Ethiopia can help it to invest in new and diverse projects that can further diversify the revenue stream and increase Return on Sales (RoS) & other metrics. Its an opportunity to get 0000247933 00000 n Nine staffs1 of the Bank contacted all the 15 banks in the industry with a questionnaire to be completed. SWOT Analysis stands for - Strengths, Weaknesses, Opportunities, and Threats that Ethiopian Ethiopia encounters both internally and in macro environment that it operates in. This is of such a sales agreement where the customer should deliver the following:Quality, Quantity, Type and Given Period to the Bank. growth and also improved financial trade, financial stability, and financial SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. Opportunities and Threats are factors that are analyzed in view of the prevalent market forces and other factors such as social, health & safety, technological, political, legal & environmental, and economic . case study, this has provided Ethiopian Ethiopia resources to not only thwart competitive pressures but also to invest into research and development. Request a cheque book by stating the number of leaves a customer needs. opportunities within the industry and for consumers: As mentioned in the weaknesses section, the At this level bank must see the customers need that which type of product and services they want. However, Strengths and weakness do changed over time. - High Margins Ethiopian Ethiopia charges a premium compare to its competitors. services. PESTEL / STEP / PEST Analysis of Ethiopia: An Emerging Market Opportunity? Additionally, customers of NIB Bank can participate in commercial/industrial buildings, dams, roads, and alike. The Development Bank of Ethiopia ( DBE) is a specialized state-owned development financial institution, which is supervised by the Public Financial Enterprises Agency in Ethiopia . Expert Assignment Help on National bank of oman swot analysis internal environment analysis of national. The Development Bank of Ethiopia was the first development finance institution in Ethiopia and as such it was designed to: " (a) assist in the development of . For those who are looking to get higher interest rates and withdraw cash at any time, Gojo/Guzo Saving Account B is a suitable option for them. NIB Bank avails this service for its customers in cash. Quality Standard Code of Products (CQI) Certificate in case of import from China. ), -Ethiopia managed to sustain high economic growth over the last decade, despite being a, landlocked country, which expanded infrastructure and thereby managing to reduce costs and, Economic activity remained strong in 2015 mainly driven by domestic demand. SWOT Analysis and Solution of Ethiopia: An Emerging Market Opportunity? A SWOT analysis is a tool used by organisations to identify its internal strengths and weaknesses, but also the external opportunities and threats. I go through you website it is so good and well But Im searching for my Class Topic which is (Womens in International Workforce) so I choose my case study to the bank in Pakistan name First Women Bank Limited So kindly sir will you help me I am waiting for your response. industries still around today. NIB Bank is coming to you! bank accounts. Coupled with customers no longer trusts banks, which equals low customer satisfaction and many banks have low brand recognition (CountyBank). exchange system. With a minimum deposit of Birr 10, students at any college or university can open a student saving account. - Squeezing Middle Class in Developed and Developing World The growing inequality is one of the biggest threat to not only globalization but also to capitalism. - Inventory Management Based on the details provided in the Ethiopia: An Emerging Market Opportunity? This spins a flywheel, which turns a generator, which, in turn, charges the battery. They are a conduit for social and economic policy. "referred as Ethiopian Ethiopia in this analysis " is a Harvard Business Review (HBR) case study used for What strengths This is targeted at those who are beneficiaries of money remittances and are living abroad. Part of this is because of conflicts between government objectives For example, a bank's opportunities may include a growing economy, new high-yield investment products, banking deregulation, less competitors in the marketplace or an increase in the average savings rate. The facility can be given out at one time or over a period of time, more than a year in most cases. The lessee must sign a letter of continuity, which the lessee here states using the leased asset in the lease period based on the pre-agreement. The number of opportunity are increasing, now a days there are vast number of opportunities available and the employees just need to grab them for their goof future. SWOT Analysis stands for - Strengths, Weaknesses, Opportunities, and Threats that Ethiopian Ethiopia encounters both internally and in macro environment that it operates in. According to John A. Quelch, Sunru Yong of Ethiopia: An Emerging Market Opportunity? Aside from having a state of art technology, Nib International Bank has started Card Banking Services by the recognized company, named PSS, or Premier Switch Solutions. The suppliers/sellers submit documents into their drawers bank, and that is after the documents are forwarded to the importers automatically. economic growth at home and worldwide. Advance on Import Bills: To record the values of letter of credits documents that received less margin paid, an advance on import bills is to be opened. of the banking industry include the following: Because the banking industry handles finances, Banks are finding new ways to create money, the government is forcing banks. You can deposit your check, pay your bills, and apply for a credit card It has the same processes of Gojo/Guzo Saving Account A, in which either Ethiopian nationals or Diaspora can have their account opened with zero balance, as they receive their money via IMTA, SWIFT, or hard currency. Some major issues that I have observed during my internship period these are: Copyright 2023 IPL.org All rights reserved. The opportunities section in a bank's SWOT analysis should list the areas where the bank has room for growth or could take advantage of opportunities in the marketplace. Building strategies based on consumer oriented product development and marketing approach. >Previous export performance Condition of warehouse and processing plant, Export sales contract (Bona-fide order from foreign buyer), Marketability of the goods to be imported, Full description of the installed machine that has the following information: country of origin,year of manufacture,status and alike, Availability of spare parts & raw material, Raw materials consumption ( both Local and foreign). Dashen Bank was founded by eleven visionary shareholders and veteran bankers with initial capital of Birr 14.9 million in September 1995. The National Bank of Ethiopia is putting its focus on the country's macroeconomic activity. Ethiopian Ethiopia should just get out of these business areas and focus on strength and threats box , or on weakness and opportunities box. If these companies have a breach, it gives hackers access to personal The manufacturing, construction and agricultural, sectors showed strong momentum whilst the services sector, which continues to make the biggest, - Addis Ababa-Djibouti railway line: nearing completion, which involved Ethiopia, Kenya and, South Sudan & Ethiopian Airlines Developed, To become internationally competitive, the Ethiopian, government has invited foreign investors to provide much-needed investment capital and, technological capabilities. However, from time to time, NIB Bank notifies the percentage of profit share to be paid to the depositors account and credits the account. The Sales & Marketing solutions & strategies has helped Ethiopian Ethiopia in coming up with unique solution to tap the un-catered markets. Contact us: +251978783525. The checking includes: Mobile banking is a service that enables customers to access and manage their account 24/7 through their mobile phones. LBB/007/99 in accordance with the Commercial Code of Ethiopia and the Proclamation for Licensing and Supervision of Banking Business Proclamation no. But the industry must first look at its The Ethiopian bank shows a steady growth as of June 2018/2019, NIB Bank gained 33.7 Billion Birr and the shareholders reached more than 4,560. 78 0 obj <> endobj Dashen Bank Share Company provides various commercial banking products and services in Ethiopia. It can be operated with or without a passbook. John A. Quelch, Sunru Yong (2018), "Ethiopia: An Emerging Market Opportunity? Case Study. NIB Bank accepts to pay on demand any amounts outstanding in the Demand Account in full amount. With banks offering more online options, it The National Bank of Ethiopia Directive to License and Authorise Interest Free Banking Business, Directive . Any NIB Bank customer can access his/her own accounts 24/7.The following are a list of services available on Nib International Bank ATMs: Nib International Bank provides its customers with access to financial transactions in a public space. The strengths will appear in the top-left box, and the opportunities will appear in the bottom-left box. industry also has its fair share of threats: The biggest threat to any industry handling This type of credit product is designed to perform as structured repayment. NIB Bank purchases and sells foreign currency in cash notes in all of its branches. case study, this can lead to serious road blocks in future growth as information in silos can result can lead to missed opportunities in market place. +1 8314170442 Transfers might take one of the following forms: From Bank to Bank transfers and payment for different purposes such as Education, Membership, Training, Medical, Insurance etc. There are many types of credit products that NIB Bank provides for Ethiopians and non-resident (Diaspora). other banks, but with other alternative finance companies. Nib International Bank offers the Local Transfer among its unique services provided to its customers. 0000003762 00000 n Strengths and Weaknesses are often restricted to company's internal - resources, skills and limitations. 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