Pursuing growth opportunities in the shipping-related and non-shipping segments

EXECUTIVE SUMMARY This research project includes an in-depth analysis of the banking industry in Singapore with focus on the Norwegian corporates. We conducted this report for Nordea Singapore Branch to find out how they can pursue growth opportunities in shipping-related and non-shipping segments. For the gathering of primary data we conduct in-depth interviews and e-mail surveys to both current and potential customers of Nordea. We summarise the internal and external factors in a SWOT analysis, to point out Nordea‟s strengths, weaknesses, opportunities and threats. From our analysis we have revealed that there is an existing but small market in the non-shipping segment for Nordea to expand in. We have recommended a strategy to make it possible for Nordea to reach out to the non-shipping segment. We have also highlighted the importance of not losing their actual position. Our strategy is based on that Nordea should actively develop relationships with their current and potential customers. This strategy strives to make the current customers loyal and to attract new customers. If Nordea expands in the non-shipping segment, they must be aware that there are challenges. The greatest risk lies in alienating the customers inthe shipping segment. For Nordea to be perceived as a better bank than its competitors and to strengthen their position in the non-shipping segment, a re-positioning of the brand is necessary