(30 April 2009 – Australia) Business banking customer satisfaction has taken a hit over the past half year, with total market satisfaction decreasing in each of the past six monthly reports of East & Partners’ Business Banking Customer Satisfaction Monitor (BBCSM).From September 2008 to the latest report in March 2009, the six months that represent the first half of the Australian banks’ financial year, overall customer satisfaction has fallen every month.
On the bright side, two banks have managed to increase satisfaction over the period, as rated by more than 850 businesses each month, ranging from small businesses with annual turnover of A$5 million to big businesses with turnover up to A$500 million.
NAB and St George saw an increase over the six month period in their overall satisfaction, and rank as one and two respectively out of the top 5 major banks in Australia.
Across the broad market segments identified by business banks, the BBCSM results show that some banks have a particular, and successful, customer focus.
While NAB has increased customer satisfaction in each of the small, mid-sized and larger turnover segments, and St George has increased satisfaction in the two smaller segments in which it focuses, quality results can also be seen by other banks.
In the small business segment, which focuses on turnover of A$5-25 million, the Regional banks have recorded an increase in overall satisfaction over the past six months, with their customised models continuing to give these banks the best results in this segment.
Among big businesses with turnover of A$150-500 million, CBA joins NAB as an improver in satisfaction over the past six months. The ground that CBA has made over the past six months has pushed the bank into second place in terms of overall satisfaction for the Big Four banks.