Strategic analysis of a retail banking firm

Citizens Bank of Canada is a full service electronic bank that serves its members across Canada through the Internet, telephone banking, 24-hour member service centre, and two retail locations in Vancouver and Calgary. Citizens Bank is a wholly-owned subsidiary of Vancouver City Savings Credit Union, Canada's largest credit union. This paper analyzes the strategic direction of the bank's retail arm, which accounts for roughly three-quarters of firm revenue. Industry dynamics and competitive trends are forcing a migration to a cost-based strategy. Executing this shift in strategy will require a number of significant changes internally within the bank and ultimately a more comprehensive look at the bank's role within its parent company's overall strategy.