Short PESTLE analysis of VTB Bank ?
PESTLE analyses the general macro environment of an organisation and tries to identify drivers of change and sources of risk.
The model stands for
P Political
E Economic
S Social
T Technological
E Environmental
L Legal
VTB Bank is a provider of Banking and other financial Services. Besides providing services of saving accounts, corporate accounts, deposits accounts, pension funds, investment products , credit cards and loans, it also provides insurance services.
Following is PESTEL analysis:
Political
VTB bank is an international bank. It has operations in many countries and its business can be effected by government policies and poliical situations of these countries. The events affective its business could be Change of Government, New political Initiative, War with other countries, Tax structure and global political moves like rising trade protectionism among global economies.
Economic
Economic conditions of any country or global economic conditions may also affect its business. In declining economic conditions, banks faces, low credit growth or negative growth. Reduced customer spendings during these times also effects the demand for Insurance and other value added products of the bank. Rising interest yields also increases business costs for banks. exchange rates may also affect business in case of multi country business.
Social
Education and Income levels are major indicators of adoption of banking services. In developing countries, people are less educated and income level is also low, due to which people use unorganised methods of finance. VTB has business in ASIA and AFRICA.
Technological
New age fintech companies are giving competition to traditional banking. new age technology products and services needs to be developed ..
Environmental
Banking business do not produce any waste or hazardous products, but waste from use of electronics products for business like computers, printer also creates its safe disposal responsibility on bank. Any environmental incidence like flood, earthquake or fire and significantly increase banks liability to settle insurance claims.
Legal
Accounting regulations and Data protection laws are evolving all over the world. In international business changes to legal laws affects financial performance. Any new law which prohibits business of insurance by private banks may also affect the VTB bank
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