Business banking satisfaction declines again

The number of business banking customers who are happy with the service they are receiving continues to fall.

New figures released by Roy Morgan Research have shown that satisfaction levels declined by 0.8 points to 64.3 per cent in May.

This is the third consecutive monthly drop and it indicates that more disillusioned companies are looking to switch lenders.

Times are certainly hard for enterprises down under, as a separate study by the organisation showed that general confidence levels in the corporate world are on the wane.

Industry communications director at Roy Morgan Research Norman Morris said that a lot of firms are upset by the lack of contact they have with their business loan provider.

"It would appear that the banks are doing a relatively poor job of meeting the more complex and potentially riskier needs of their business customers," he remarked.

Satisfaction levels among corporate banking customers are around 14 per cent lower than personal clients.

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