2017 Australian SME Transaction Banking League Tables
(15 September 2017 - Australia) The 2017 Australian SME Transaction Banking league table highlights an intensifying battle between NAB and CBA, who are, in terms of primary market share, positioned as the top 2 providers to businesses with an annual turnover of between $1 to $20 million.
According to the biannual research, which interviews around 1,500 businesses, should the current multi-year trends continue, the market can expect CBA to overtake NAB in overall primary transaction banking market share in the next four years.
Alarming for Westpac, despite having maintained consistent multi-year “top of mind” status across all core products among the small business segment, the bank has failed to covert that in to significant market share, trailing growth of major rivals CBA and ANZ.
Top banks battling it out for small businesses
Source: East & Partners' Australian SME Transaction Banking Program
For more information about the research, contact Sian Dowling at sian.d@eastandpartners.com