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ISCOVER
Staff Reporter
Satisfaction towards the big four among business banking clients has dropped for the first time in six months.
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According to the latest DBM Business Financial Services Monitor, the majors’ decision to lift rates out of cycle with the RBA in November adversely impacted satisfaction levels.
The Commonwealth Bank of Australia and National Australia Bank fell against the previous month, just as the two raised standard variable business rates by 0.45 and 0.43 per cent respectively.
Both Westpac and ANZ managed to largely maintain their satisfaction levels, suggesting that borrowers were not as worried by their respective 0.39 and 0.35 per cent rate increases.
The DBM report is based on an annual survey of 19,250 individuals in business banking.
