BUSINESS customers are happy with the big four banks, despite their failure to fully pass on the RBA's interest rate cuts.
The monthly DBM Consultants Business Financial Services Monitor (BFSM) shows business customers with the big four - the Commonwealth, National Australia Bank, ANZ and Westpac - are almost as satisfied as they were a year ago.
Westpac was in number one place in November, with an average satisfaction rating of 7.4 out of 10, down from 7.5 in November 2011.
The Commonwealth Bank had a satisfaction rating of 7.3, the same as a year ago, while NAB increased their rating 0.1 per cent to 7.0 per cent.
ANZ, which has languished below the other banks in the survey since its decision to split the timing of its monthly interest rate decision from the other three banks, was at 7.0, up from 6.9 in October but down from 7.1 a year ago.
The banks have more or less retained their satisfaction levels despite consistently failing to reduce their interest rates in line with the RBA's cuts to the cash rate.
The RBA has cut the cash rate 1.75 percentage points since November 2011.
Over the same time the big four have reduced their standard variable mortgage rates by between 1.29 and 1.47 percentage points.
DBM managing director Dhruba Gupta said it was impressive the banks managed to more or less retain their ratings compared to 12 months ago.
"The fact that the banks were able to maintain their ratings in a tough year was testament to their resilience when they received a lot of quite negative publicity," he said.
The BFSM surveys 20,000 businesses annually.
