By Gareth Vaughan
Annual institutional banking research on New Zealand's big banks from Australian firm Peter Lee Associates shows ANZ NZ retaining the top "relationship strength" score in relationship banking, and BNZ doing the same on the transactional banking side.
Cameron Peter, Peter Lee's managing director, told interest.co.nz the company's research is based on surveys of companies with annual revenue of at least NZ$200 million.
"The research covers a wide range of service quality measures, which are then combined into an overall index we call the ‘Relationship Strength Index’," Peter said.
"Amongst each bank’s ‘lead’ relationships, BNZ ranks outright first in the (transactional banking) Relationship Strength Index for the second year in a row."
Westpac was second, having been first for five years before being pipped by BNZ last year.
BNZ came in first in overall satisfaction, overall capability of transactional banking specialist, usefulness of advice and guidance, effectiveness in follow up of specialists, overall quality of operations, system reliability, overall customer service, and first for transaction processing.
Meanwhile, Peter said just 11 of the 186 respondents cited ASB as their "lead" domestic transactional bank. In late 2010 ASB launched a new push in institutional banking, dropping the use of its parent Commonwealth Bank of Australia's name to operate under the ASB Institutional brand as it tries to boost its small presence in the lucrative institutional banking market. Peter said ASB had recorded some success, securing the likes of Christchurch International Airport and Trade Me.
Peter said of 186 respondents in the transactional banking research, 48% cite Westpac as a provider of domestic transactional banking, ranking Westpac equal first with ANZ. And 37% cite Westpac as their "lead" domestic transactional bank, ranking Westpac first ahead of ANZ on 30%, and BNZ on 28%.
On the relationship banking side ANZ continued its long run with the highest "relationship strength" score with Westpac second, and BNZ third.
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