Business Outlook Sample for a Banking Sector - Competitive Conditions

                                           
                              Business Outlook Sample for a Banking Sector - Competitive Conditions

PART: 5

4.2. Competitive conditions

The large high street banks that have major shares of the retail banking market and other financial services business dominate the banking industry operating in the domestic market.  However the Government and Regulators are keen to encourage competition and this is manifested in the rapid expansion of the ...ABC... banking model in the Canada as well as the increasing presence of niche banks such as ...DFC...Bank. The Bank recognises the fact that most clearing banks now have units made up of staff emanating from the various ethnic sectors resident in the ....Canada.. including the Spanish community. The Bank does not aim to compete head on with any of these banks but aims to provide products and services for the niche market of the Spanish speaking community in the ...Canada....  However, subject to the approval of the Board and Regulator, ...DFGH... will from time-to-time offer notice accounts and bond products to the wider ...Canada.. public.

Direct competition in our target sector comes from the New York branches of ABC Bank , and DFC Bank. There is now very limited competition in the retail sector from these institutions particularly with ABC Bank, New York being far less aggressive in the marketplace and the planned closure of HJK International in New York. The Bank has therefore a competitive advantage over other Spanish banks through the location and staffing of its branches, its readiness to work with small and medium sized retail business and its improving product range.

One area of competition outside the general banking industry comes in the remittance sector where companies such as Moneygram and Western Union offer aggressively priced services.