Bank of QLD and Bendigo Bank lead customer approval ratings

Queensland banks have been reportedly leading the way when it comes to customer satisfaction levels and service with the big banks of Australia all scoring lower. Bank of Queensland and Bendigo Banks came first and second respectively when rated over the last twelve months with the closest of the major banks being St George in third position. The ratings for customer satisfaction over twelve months were as follows:

1. Bank of Queensland - 90.7 per cent (down 0.7 per cent from last year)
   
2. Bendigo Banks - 89.9 per cent (down 3.2 per cent from last year)
   
3. St George - 74.2 per cent (down 10.8 per cent from last year)

This is not the only good news for bank institutions in Queensland with the Sunshine Coast Daily reporting that business lending levels are higher than expected in a global financial crisis banking industry, in fact latest figures show that the GFC has had a minimal effect overall as most Queensland banks maintain high lending levels with Queensland businesses. Such figures include the massive growth levels for business loan inquiries and lending by 278 per cent, according to Sunshine Coast Daily.

This high growth is supported by data from the Reserve Bank of Australia where a spokesperson stated that Australian local bank brands and industry are actually far more resilient and resistant to the pitfalls and long term effects of the global financial crisis.

The RBA stated that "The resilience of the Australian financial system through the crisis period has reflected a combination of factors including the comparatively mild nature of the overall economic slowdown in Australia, the absence of large-scale exposures to structured securities, and relatively conservative lending practices, particularly for housing,"

"While loan losses may rise further in the current environment, Australian banks remain better placed than their counterparts in many other advanced economies to weather any further adverse developments in the global financial system."

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