Small business happier with their banks than the big companies
Micro and small businesses showed their banks more love last year, while medium and large businesses were no more than so-so about their banking relationships.The latest Roy Morgan Research business banking customer survey, released yesterday, shows a 3.7 percentage point increase in satisfaction reported by micro business (businesses with an annual turnover of below $1 million) over the six months to December 2011.Small businesses (turnover of $1 million to $5 million) recorded a 3.8 percentage point increase in satisfaction over the same period.But satisfaction scores recorded by medium and large businesses fell by 3.6 percentage points over the six months.The results might be an indication of where the banks are competing for business.Bendigo and Adelaide Bank has the highest business customer satisfaction score in the Roy Morgan survey, with a rating of 75.4 per cent in DecemberSt George Bank has a 69.7 per cent rating, Westpac has 65.4 per cent, ANZ has 63.8 per cent and Suncorp has 60.1 per cent.Commonwealth Bank and National Australia Bank are the laggards, with scores of 55 per cent and 55.8 per cent, respectively.