STRATEGIC MARKETING ASSIGNMENT
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StrategicMarketingMidterm.docxStrategic Marketing Midterm
CAIXABANK
CaixaBank is a banking firm within a socially conscious, long-term universal banking model focused on consistency, confidence and experience, which provides a value proposition of goods and services targeted to each market, which takes creativity as a competitive challenge and a cornerstone of its corporate community, and whose major presence in retail banking in Spain and Portugal makes it a leading leader in retail banking. CaixaBank is focused on its organizational principles of excellence, trust and social responsibility to its social and work activities. To satisfy their clients, they use consistency by giving them outstanding service. The effect of honesty, professionalism and vicinity is confidence. It enables them to meet the desires of their clients and to build long agreements that are equitable to both stakeholders and based on shared benefits. The fundamental cornerstone of their development and the factor that establishes close ties with their stakeholders is social engagement. This principle underlines their aim of leading to the creation of a better future and more benefits for everyone. Their aim is to become a biggest creative financial community with the highest client experience and responsible banking standards. The Organization's mission is to commit to their clients' financial quality of life and to the advancement of culture.
The planned takeover of Bankia bank by CaixaBank would build the biggest internationally lender in Spain, helping the previous to reduce expenses by shutting branches and boosting its client base at such a period when Spanish banks face rivalry, low interest rates and a financial crisis. Based to researchers, the influence of the coronavirus has exacerbated the difficulties presented by the industry, causing restructuring a necessary move to stay productive. CaixaBank seems to be one of the three largest banks in Spain through assets. Today, CaixaBank has a market share of 16 percent in the Spanish banking market. They have netted sales sideways against 5 billion euro range as of 2018. The expanded company will stay their position among the three largest banks in Spain with assets amounting to 664,03 billion euro, based on data from S&P Global Market Intelligence. The two banks' aggregate net loans equal 358.74 billion euro. Besides a 25 percent market share in loans and 24 percent in deposits, it will be the biggest domestic participant. Investors began to engage carefully as EU policies restored the economic stimulation of Europe and in the midst of signs that US operation is decreasing momentum as the original applications for unemployment soared towards a 3-month peak. The financial markets were divided, the USD weakened declined and no difference was made in government rates.
The political Committee of CaixaBank is capable of determining the role of CaixaBank on legal and statutory measures. The Board is headed by the Director of the Departments of political Relations and is comprised of top administration members. CaixaBank leads, via its economic operations, towards the economy. Perhaps it leads implicitly through its investment on goods and services and by the impact that it has on the expenditure of its workers' wages, the dividends earned from its owners and investors and its suppliers' staff, as well as from the production operation of the personality workers, corporations and firms it funds. Through its operations and outcomes, CaixaBank leads to the increase of the social structure via its Connection Shareholder Base, 'la Caixa.'
The budget of the 'la Caixa' Organization in 2020 is EUR 560 million, that next year defines that 'la Caixa' Organization as a personal Spanish company dedicating additional money to social action. The proposal includes of a loan to fund the technology project of CaixaBank, including the production and deployment for the period 2018-2020 of new IT systems, methods and facilities. The planning, development and overseeing of a new data center are all involved in the project. Here’s list of some of CaixaBank competitors:
· BANCO STANDER
· GROUPE CREDIT AGRICOLE
· LLOYEDS BANKING GROUP
· NATIONAL BANK OF CANADA
· BANKINTER
· MIZUHO FINANCIAL GROUP
A leadership and transformation approach that is expressed in CaixaBank across main actions or strategic competition
1) Within the highest ethical standards and outstanding financial reporting, grow the enterprise
· Excellent corporate management, existing health and safety issue oversight.
· Become the organization's main model for accountability and outward contact.
2) Placed focus on financial resilience
· Constant liquidity improvement.
· Aggressively handling the investments of property investment especially non loans.
3) Establish leadership between all of executives
· Preserve, in a growing world, the corporate culture.
· Enhance internal and team-work coordination.
· Appreciation of positive results is increased.
4) Represent the maximum degree of service to the customer:
· Having the customer throughout the forefront of the company.
· To become the institution providing the maximum standard of support efficiency.
· Enable a distinction in comparison to the majority of the market's rivals.
At the end, Caixabank is a corporation offering financial goods and services. The bank offers a variety of goods and services for
· wealth management
· investment banking
· enterprise banking
· insurance and savings
Appealing to the needs of individuals and corporate clients. Its service portfolio comprises
· mutual bonds
· gift cards
· debit cards
· credit cards
· current accounts
· Deposits
· savings accounts
· rentals
· land rents
· school loans
· personal loans for auto loans, business loans, and structured loans.
In addition, CaixaBank offers retirement securities, pension policies, health benefits, auto insurance, insurance against injuries, home insurance, insurance against liability, corporate insurance, shares, stocks, options and mutual funds. It also offers financial forecasting, administration of receipts and transfers, currency management, foreign exchange services, treasury, online banking, telephone banking and ATM services. The business provides in a lot of countries, together with its branches, across branches and ATM centers. It is a division of the savings bank, la Caixa. The offices of CaixaBank are based in Barcelona, Spain.
CaixaBank. 2020. Search| Caixabank. [online] Available at: <https://www4.caixabank.com/apl/buscador/interficieBuscador.index_en.html?q=swot+analysis&x=0&y=0&site=CABK_EN> [Accessed 13 December 2020].
CaixaBank. 2020. Mission, Vision And Values. [online] Available at: <https://www.caixabank.com/informacioncorporativa/misionvisionyvalores_en.html#:~:text=The%20Group's%20mission%20is%20to,a%20benchmark%20in%20responsible%20banking.> [Accessed 13 December 2020].
Forbes. 2020. Caixabank. [online] Available at: <https://www.forbes.com/companies/caixabank/?sh=59af52e63c98> [Accessed 13 December 2020].
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