Big four get a bad rep from businesses

by Adam Smith21 May 2012

Regional banks enjoy the best reputations, while the big four have copped it from business owners in a new survey.

The Bank Reputation Index, conducted by East & Partners and Daymark PR, has found that smaller businesses have a negative view of Australian banks. SMEs and micro businesses polled by the index showed a low opinion of banks, ranking the industry as having a poor reputation.

The poll asked the business community to respond to the question "Would you say Australia's banking industry as a whole has a good reputation?", rating their response on a scale of one to 10, with one being strong agreement and 10 being strong disagreement. Micro businesses and SMEs rated bank reputation poorly, at 7.9 and 7.3, respectively.

Regional banks fared better in the survey, with Bendigo and Adelaide ranked a 5.7, Bank of Queensland a 5.8 and BankWest rating a 6.1. The majors ranked toward the lower end of the scale, with ANZ receiving the best rating at 7.2 and Westpac the worst at 8.0.

Larger businesses had a more positive view of the banking industry. Institutional businesses rated banks most highly, at 5.9.

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