(10th November 2010 – Australia) Over 90 percent of SMEs have had their current Relationship Manager (RM) for less than a year, according to East & Partners’ latest Australian SME Banking Markets report.This is a stark contrast to Institutional businesses, where over 60 percent of enterprises in this segment report having their RM for at least one year.
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The number of small businesses who have had their RM for less than six months has increased from 29.2 percent to 43.7 percent since October 2008.
- However, over the same period, the number of SMEs reporting that they have had their current RM for less than two years has significantly dropped from 17.1 percent to 8.6 percent.
The low levels of relationship tenure could be partly attributed to the fact that the number of SMEs reporting a dedicated RM has almost doubled over the past two years with almost one in three SMEs now reporting a dedicated RM.
About East & Partners Australian SME Banking Markets Report
East & Partners Australian SME Markets report is a detailed analysis of product usage, market share, share of customer wallet, bank by bank customer satisfaction performance, share of mind, account churn and buying characteristics for small to medium enterprises in the A$1-20 million turnover segment across all core transaction, internet, debt, financial markets, working capital, asset management and advisory products.
For more information please contact:
Kimberley Burgess
Marketing Communications
East & Partners
t: 02 9004 7848
m: 0405 250 796
e: kimberley.b@eastandpartners.com