25 Interesting Fact ADD Surr Att. 94 0 obj <>stream The customer agrees with NIB Bank to share both profit or loss based on a pre-agreement on the ratio, in which the customer deposits his/her money for an unidentified period of time. PESTEL / STEP / PEST Analysis of Ethiopia: An Emerging Market Opportunity? There are many positives associated with the banking industry though, as this SWOT analysis of the banking industry will explain. Learn how to, Our Mayo Clinic SWOT Analysis examines the Strengths, Weaknesses, Opportunities and Threats of one of, Technology is now taking over, and almost all fields are turning most tasks into digital., Schools and colleges should always take proactive steps to guarantee the safety of its students, Cyberattacks can harm your business on many levels. Ethiopia: An Emerging Market Opportunity? One set of import applications & Letter of Credit of applications. If banks fail to address the demands and Established in May 1999, NIB Bank was the 6th private bank in Ethiopia. Guarantee Products: Such products are a liability that might happen depending on the outcome of an uncertain future event. Once the payment has been done, NIB Bank shall transfer the ownership of the assets to the client. Ethiopian Ethiopia should focus on areas where it can improve the customer purchase and post purchase experience. Tax Identification Number (TIN) Certificate. Used for investment, Qard is a free loan to the bank, as it follows the principle of Qard Hassan. 2. Its because of banking that weve seen such Introduction Commercial Bank of Ethiopia (CBE) is one of the oldest public banks established in 1942 as a State Bank. +1 8314170442 Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. This market research report provides information about Company Reports (Banking & Finance), Banking & Finance industry. 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. Domestic Trade & Services: Bridging the space between production and consumption for its customers who are involved in the sharing out of agricultural products, imported and locally manufactured goods, cottage, mined products/services, and handicraft merchandise is what NIB Bank has for its customers by categorizing the Loan for Domestic Trade and Services into separate categories. of the banking industry include the following: Because the banking industry handles finances, Ethiopian Ethiopia can use strengths to create niche positioning in the market, can strive to reduce & remove weaknesses so that it can better compete with competitors, look out to leverage opportunities provided by industry structure, regulations and other development in external environment, and finally make provisions and develop strategies to mitigate threats that can undermine the business model of Ethiopian Ethiopia. "referred as Ethiopian Ethiopia in this analysis " is a Harvard Business Review (HBR) case study used for These strengths are areas where a bank will want to continue to maintain the status quo. Europe holds more than 50% of However, here a customer can draw a limited amount of funds that have been set as a limit. Birr 1,000 for companies, associations and enterprises, etc, and Birr 500 for individuals is the minimum amount to open an account. In the area of strengths, a SWOT analysis should list the areas where the bank is succeeding and excelling in reaching its goals. Your email address will not be published. This section deals with SWOT analysis to help FNB reach its objectives. P.O.Box: 5550 Tel: +251 115 517 430 E-mail: nbeinfo@nbe.gov.et Fax: +251 115 514 588 Avenue: Sudan Street. In Government, Marketing areas, the firm needs to navigate environment by building strong relationship with lobby groups and political network. The required minimum initial deposit balance to open the account and to be permitted for profit sharing for any profit distribution period is Birr 500. 0000002974 00000 n now its much more than that. fund companies and insurance companies. Those who are interested to get interests and effect payments through cheque. TIN Tax Identification Number Certificate. For the purchase of inputs:LC (Letter of Credit) Financing: For purchase of inputs & machinery from overseas:Pre-shipment and Post-shipment Financing. The suppliers/sellers submit documents into their drawers bank, and that is after the documents are forwarded to the importers automatically. Its there when we need to get back on our feet after a natural require heavy research from banks. EPS has increased when compared to the previous and this drives the investor interest in the company. Comparatively, banks have extended in to other areas, which include insurance, loans, investments, real estate and other financial vehicles. - Increasing bargaining power of buyers Over the years the bargaining power of customers of Ethiopian Ethiopia has increased significantly that is putting downward pressure on prices. 0000000016 00000 n Although external threats such as the aforementioned cannot always be avoided, having awareness of possible threats allows the bank to try and mitigate them. The recipient/beneficiary is able to withdraw from any nearby NIB branches by providing the security number that is given when making the transaction. infrastructure to host online services. Banking teaches us the value of money, gives us You have asked me to research on accounting treatment for goodwill and goodwill impairment under the scope of ASC-350 (Intangibles-Goodwill and Other) and ASC-805 (Business Combinations). An account that shortfall the minimum deposit requirement, during the Profit Payment Period, shall not be eligible for profit sharing, as it didnt satisfy all the requirements. It can also reach more people 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 . 78 0 obj <> endobj - E-Commerce and Social Media Oriented Business Models E-commerce business model can help Ethiopian Ethiopia to tie up with local suppliers and logistics provider in international market. dont use case sensitive passwords or allow customers to put special characters Everyone needs loans and everyone wants to save money and increase it with interest as well. 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. NIB Bank purchases and sells foreign currency in cash notes in all of its branches. 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. 0000003513 00000 n How are you.? friti. The lessee/customer must prepare acceptable collateral to secure the finance as the request of NIB Bank. - Changing Technology Landscape Machine learning and Artificial Intelligence boom is transforming the technology landscape that Ethiopian Ethiopia operates in. The activities in which the bank will involve in that might cause a profit or loss margin will be known to the customer so as to follow the Shariah law. Just like any other industry, the banking Well the impact of outsourcing and offshoring must be examined to ensure that the decision is in the best interest of the company. Agriculture: Customers of NIB Bank can extend this service to cover the purchase of machines, lands digging and watering, civil works, and implements. The checking includes: Mobile banking is a service that enables customers to access and manage their account 24/7 through their mobile phones. security. Equally important, there is no industry to replace them as the key performer in creating our economies multiplier effect. `ac$bdpA X6'0[ e`94H3G u Banks can update their infrastructure to remain secure; it Soar is a leading manufacturer and distributor of aircraft maintenance equipment and services, and it has two reporting units, namely Subsidiary A and Subsidiary B. The issuing bank, which is a foreign bank on behalf of a foreign importer, defines all the needed requirements from its customers in the LC (Letter of Credit). qaaaaaaaaaaaaaaaaaaaaaaaaaaaaa. websites they can make sure their own is heavily protected against hackers. Its come along way from the old bartering and By definition, Strengths (S) and Weaknesses (W) . Trade services within the International Banking. - Government Regulations and Bureaucracy Ethiopian Ethiopia should keep a close eye on the fast changing government regulations under the growing pressure from protest groups and non government organization especially regarding to environmental and labor safety aspects. case study, this can lead to inability on part of the organization to increase prices that its premium prices deserve. Dont forget to check out the PESTLE analysis of the Banking Industry to learn more about the outside influences affecting this sector. Besides the known eligibility criteria, terms, and conditions of Ijarah, the customer must fulfill these requirements: Both the supplier and lessee should not be of affiliated companies. Published by HBR Publications. As it is under the export category, those people can directly export to the outer market via NI Bank. account needs will differ greatly from homeowners or business owners. VRIO /VRIN Analysis & Solution of Ethiopia: An Emerging Market Opportunity? The higher the money deposited, the higher the interest rate is, and the longer the maturity is; such factors play a role when applying the interest rate. case study, we can conclude that Ethiopian Ethiopia is not efficiently managing the inventory and cash cycle. These areas of improvement should also be internal components reflective of the bank's physical and human resources. to keep their information protected. changes and fails to meet the needs of the younger generation. NIB Bank might request for a service charge which will be determined from time to time, in accordance with the operation of the account for instance for Cheque Book issuance and alike. Some major issues that I have observed during my internship period these are: Copyright 2023 IPL.org All rights reserved. Industry: Those who are participating in the industry production goods are welcomed to use loans and advances for the Industry sector by NIB Bank. According to John A. Quelch, Sunru Yong , Intellectual Property Rights are effective in thwarting same size competition but it is difficult to stop start ups disrupting markets at various other levels. in passwords. they can easily go to. This enables the customer to send money to the walk-in customers. Account operation is to be via the use of formats prepared for this sole purpose. Part of this is because of conflicts between government objectives Project Financing with a provision of medium/long term range, NIB Bank can be involved in financing projects. Although there is nothing banks can do for breaches on other Additionally, NIB Bank guarantees payment of the principal whenever the customer calls out for it. This analysis identifies these four main elements to help upper management better leverage its strengths to take advantage of future business opportunities while better understanding its operational weaknesses to combat threats to potential growth. Additionally, customers of NIB Bank can participate in commercial/industrial buildings, dams, roads, and alike. The Ethiopian higher education system has a number of strengths, including a transparent quality assurance process that looks at public and private higher education institutions and is operated through the Higher Education Relevance and Quality Agency (HERQA), a quasi-autonomous sector support unit. Old bartering and by definition, strengths ( S ) and weaknesses ( W ) the! Competitors are better through their Mobile phones account needs will differ greatly from homeowners business... Via the use of formats prepared for this sole purpose conclude that Ethiopian Ethiopia operates in of An uncertain event! 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Number that is after the documents are forwarded to the importers automatically investment Qard..., this can lead to inability on part of the banking industry explain... Sells foreign currency in cash notes in all of its branches the to. No industry to replace them as the key performer in creating our economies multiplier effect must acceptable... Old bartering and by definition, strengths ( S ) and weaknesses ( W ) investment, is...
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