Business not satisfied by their bank

Businesses are feeling the burden of the re-rating of their credit facilities and tighter lending criteria, and they are taking it out on their bankers. East & Partners has reported a decline in overall satisfaction every month since August last year. NAB leads the East & Partners survey with a score of 6.56 out of 10.

The TNS Business Banking Customer Satisfaction Monitor shows a similar trend. Over the six months to July all major banks lost ground, with the average for the four falling 3.6 percentage points to 71.2 per cent. ANZ leads with a score of 74.7 per cent. The TNS report shows that the average for all financial institutions fell by 3.7 percentage points.

The East & Partners analysis of satisfaction factors shows that pricing continues to be the issue that causes most problems, along with applications and processes.

Source: The Sheet

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