Competitiveness as an object of analysis in bank’s strategy forming

Abstract

This paper summarizes the concept of competitiveness as an economic category and peculiarities of its understanding. The nature of competitiveness as the derivative concept, which was formed along with the existence of such a market element as the competition.  The advantages of competitiveness for the banking sector and, as a result, the main functions of competition for the bank institutions are indicated. The subject, object and subject of banking competition are determined. A list of factors that are worth paying attention while conducting the analysis of the competitiveness of the banking institution for the development of an effective bank strategy has been indicated. Also the importance of strategic analysis for the formation, correction, and changing of the strategy of the bank has been worked out. The system of conducting of analysis while making the banking strategy has been developed and presented schematically. The influence of each step of an analyst on the actions of managers as for the formation or changes in bank strategy is determined. The necessity of identifying and studying the category of "trust" of the client to the bank is proposed. It has been characterized the category of "trust" of the client to the bank as an important contemporary factor which determines the level and scope of financial flows of the bank. This fact can lead to the improvement of the  competitive position of the institution in the market.