Investment in business banking services pays off

Suncorp and Commonwealth Bank lead the way in posting some very big increases in business banking customer satisfaction, according to the latest TNS business finance monitor.

Suncorp’s rating rose 16.1 percentage points to 86.9 per cent in the year to May and CBA’s rose 12.3 percentage points to 72.6 per cent over the same period.

The investment that banks have made in business banking services, with more business centres, more relationship managers and improved products, appears to be paying off. All nine banks in the survey improved their ratings over the past year.

Bendigo Bank is the most popular bank with business customers. More than 93 per cent of Bendigo business customers said they were fairly satisfied or very satisfied with the bank.

But Bendigo had the lowest rate of growth in satisfaction over the past year – up only 3.3 percentage points

The other bank that may be coming back to the pack is St George, whose business banking satisfaction ratings also rose only 3.3 percentage points in the year to May.

Among the big four banks ANZ has the highest ratings, at 81.8 per cent, followed by Westpac (78.8 per cent), National Australia bank (75.1 per cent) and Commonwealth (72.6 per cent).

http://www.thesheet.com/nl05_news_selected.php?act=2&stream=1&selkey=6782&hlc

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Business Financial Services

Investment in business banking services pays off