Westpac favourite big bank for business

The Big Four banks are closing the gap with their smaller rivals in the business customer satisfaction stakes. DBM Consultants reported in its latest Business Financial Services Monitor, released this week, that the average rating of the Big Four was 1.4 points (on a scale of 10) behind the average rating of the regional banks at the start of the year. In the latest survey the gap has narrowed to 0.9 points.

DBM managing director Dhruba Gupta said Commonwealth Bank was the big improver in 2011, while Westpac has consistently had the highest overall ratings among the Big Four. Gupta said the Big Four still had work to do in the small business segment (turnover of A$1 million to $5 million), where the regionals had significantly higher satisfaction scores.

Westpac achieved the best Big Four rating, with an average score of 7.5 (out of 10) across all business segments. Commonwealth Bank had a score of 7.3, ANZ had 7.1 and National Australia Bank had 6.9.

Source: Banking Day

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