Thursday, October 31st, 2013 - Roy Morgan Research
The latest research from the September 2013 Roy Morgan Business Finance Survey shows differences in the use of relationship managers and business bankers across the business market for the big four banks. The NAB makes the greatest use of business relationship managers with over half of their business customers (52.9%) having one compared to 36.1% for Westpac, 34.2% for the ANZ and 28.7% for the Commonwealth Bank.

The general trend across the four major banks is that the use of relationship managers greatly increases with business size. Micro businesses (turnover of less than $1m pa) have the lowest penetration of business managers across all four banks ranging from 25.8% for the Commonwealth Bank to 48.7% for the NAB. This rises to a much higher level for Medium and Large businesses where the NAB has the highest use with 79% for Medium business ($5m to $50m turnover) and 77.3% for Large businesses ($50m + turnover).

Proportion of Business Customers with Relationship Manager

Bank-relationship1

Source: Roy Morgan Business Finance Single Source (Australia), October 2012 - September 2013, Australian Businesses, Micro Businesses (less than $1 million turnover) n=9,785, Small Businesses ($1 million to under $5 million turnover) n=2,441, Medium Businesses ($5 million to under $50 million turnover) n=1,130, Large Businesses ($50 million or more turnover) n=277.

 The Commonwealth Bank had the highest relationship manager satisfaction rating across the four banks for the Medium business market ($5 million to under $50 million turnover), at 75.4%, and ANZ achieved the top rating for Large businesses ($50 million or more turnover), at 81.9%. The National Australia Bank had the lowest relationship manager satisfaction ratings across the big four banks for the Micro, Medium and Large business markets, although had the second highest rating for Small businesses at 66.9% (behind Westpac, 69.6%).

Satisfaction with Relationship Manager, by Business Size (turnover)

bank-relationship2

Source: Roy Morgan Business Finance Single Source (Australia), October 2012 - September 2013, Australian Businesses, Micro Businesses (less than $1 million turnover) n=9,785, Small Businesses ($1 million to under $5 million turnover) n=2,441, Medium Businesses ($5 million to under $50 million turnover) n=1,130, Large Businesses ($50 million or more turnover) n=277. Question: "Overall, how satisfied or dissatisfied are you with the relationship manager or business banker from <institution>?"

Nigel Smith, Director – Business Research, says:

“Overall, the big four banks now have a lower proportion of customers with relationship managers in September 2013 than was the case in September 2012. Despite having the highest proportion of businesses with relationship managers across all business sizes, National Australia Bank relationship managers consistently have the lowest satisfaction levels among business bankers for the big four, suggesting they may have problems with the quality of service that those relationship managers provide.


“The relationship manager plays a key role in how business customers view their bank and how they stay connected. We see this in the correlation between high satisfaction with the relationship manager and overall satisfaction with the bank. For example Westpac has the highest overall customer satisfaction and highest relationship manager satisfaction among business customers.”


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Keywords

banking, big four, nab, commonwealth, westpac, anz, business banking

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