The 2016 financial year was a challenging one for the banking industry as a whole, with diminishing economic growth both in the region and worldwide, which has impacted the quality of assets in these regions. Alubaf experienced an increase in non-performing assets in 2016, which required sizable provisioning during the aforementioned year.
Interest and similar income for 2016 amounted to US$ 39.6 million, compared with US$ 47.6 million for 2015, signifying a reduction of 17%. On the other hand, interest expenses for 2016 stood at US$ 8.6 million, signifying an increase of 184% compared to 2015. Thus, net interest income decreased by 30% in 2016 compared to 2015, mainly due to the increase in interest expenses.
We will audit the digital activities of Alubaf Bank and further analyze as of how Digital marketing can add value, i.e. will primarily focus on the analysis of the website & company’s current marketing activities (external) i.e. what the bank is doing. Identifying the GAP AREAS i.e. what are the areas of improvement and then strategize what can be done to achieve their objective. The bank needs a better digital marketing strategy which can enhance the current customer retention and promise a sustainable new customer acquisition for the bank in the market of Bahrain i.e. Prospecting plus Client Acquisition.
Overall they need some good work, the score of 6.5 over 18 parameters checked on the website, we could say they are doing average, 5 pages are checked with some issues over meta-tags and description on the website, so they need to work on the “SEO” section, but their marketing is “worsening everything”, with a score of 3.2 they really need aggressive work on marketing channels.
Below are some of the top competitors in the region. On a bird’s eye view, we can infer that Organic traffic is close to nil and they are not running any paid ads, their attention towards marketing is not illuminant.
Below chart shows you the marketing efforts of all other banks and I suppose Alubaf Bank should invest some time and efforts to grab some marketing share.
Below are some of the top competitors in the region. On a bird’s eye view, we can infer that Organic traffic is close to nil and they are not running any paid ads, their attention towards marketing is not illuminant.
Below chart shows you the marketing efforts of all other banks and I suppose Alubaf Bank should invest some time and efforts to grab some marketing share.
