Westpac’s bid for St George Bank is looking more like a sound strategic play in circumstances where the latest TNS Business Banking Customer Satisfaction research has revealed St George to be leading the way.
The research, covering the 12 months to April, revealed that St George’s business customer satisfaction was higher at 83.1 per cent than the four major banks, but that it had increased at a slower rate over the past 12 months.
Importantly, the research also revealed that Westpac’s business banking customer satisfaction had increased by 8.2 per cent to 77.8 per cent over the period, while the National Australia Bank had increased by 6.7 per cent to 75.2 per cent.
The research found that business customer satisfaction with the four major banks had increased by an average 8.2 per cent compared with the previous 12 month period, with the Commonwealth Bank increasing the most at 11.4 per cent to 71.1 per cent.
Among the regional banks, Bendigo Bank and Bank of Queensland had the highest customer satisfaction levels of any of the banks, with Bendigo Bank’s customer satisfaction increasing by 4 per cent to 94.1 per cent while Bank of Queensland increased by 4.7 per cent to 90.3 per cent.
