Westpac and the Commonwealth Bank have finished the financial year as the top banks for Australian businesses of all sizes based on customer satisfaction.
According to new research conducted by DBM Consultants, the two banks ranked number one in all business segments including micro, small, medium and large.
DBM Consultants' managing director Dhruba Gupta said it was no surprise that Westpac and the Commonwealth Bank had such a great end to the 2012/2013 financial year.
“While all financial institutions have heavily invested in delivering improved customer service, business decision makers have consistently rated Westpac and the Commonwealth Bank highest, clearly appreciating the initiatives brought in by these banks,” Mr Gupta said.
“This includes activities such as making relationship managers more accessible and returning calls within 24 hours.”
Across the market overall, Commonwealth Bank and Westpac business customers have the highest level of satisfaction, with both lenders achieving an overall satisfaction rating of 7.4 out of 10.
National Australia Bank and ANZ followed closely behind, with both banks recording a satisfaction rating of 7.0.
“Despite there being a high level of uncertainty around our unemployment rates, political instability and the economic outlook, business decisions makers are still satisfied with the performance of their bank. Since November 2012, all of the big four banks have been rated at least a seven out of 10 almost every month,” Mr Gupta said.