Subject category:
Strategy and General Management
Published by:
IBS Case Development Center
Length: 16 pages
Data source: Published sources
Topics:
NAB (National Australia Bank); Cross-selling initiatives; Expansion through acquisitions; European banking industry; Restructuring strategies; Organisation work culture; Streamlining of operations; Australian banking industry; Yorkshire and Clydesdale Bank; Autonomy and decision making; Trading scandal in National Australia Bank (NAB); John Stewart; Customer Relationship Management (CRM); Integrated Financial Solutions Centre; Customer satisfaction and retention
Abstract
Since its entry into Europe in the late 1980s, National Australia Bank has focused on expansion through acquisitions and has been operating as a one-stop shop for all the financial needs of its customers. However, in the UK, due to intense competition and its absence in the ''wealthy'' southeast England, the bank faced the problem of ''too many branches, too few customers''. It was forced to sell off its Irish banks and focus on its core UK business. To revamp its declining sales, the bank launched various cross-selling initiatives, changed its work culture and redesigned its offices to offer its customers a club-like ambience. The case, while highlighting the various cross-selling strategies adopted by National Australia Bank, offers scope to discuss whether it can achieve its targeted growth in the highly competitive European banking industry.
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Abstract
Since its entry into Europe in the late 1980s, National Australia Bank has focused on expansion through acquisitions and has been operating as a one-stop shop for all the financial needs of its customers. However, in the UK, due to intense competition and its absence in the ''wealthy'' southeast England, the bank faced the problem of ''too many branches, too few customers''. It was forced to sell off its Irish banks and focus on its core UK business. To revamp its declining sales, the bank launched various cross-selling initiatives, changed its work culture and redesigned its offices to offer its customers a club-like ambience. The case, while highlighting the various cross-selling strategies adopted by National Australia Bank, offers scope to discuss whether it can achieve its targeted growth in the highly competitive European banking industry.