Small and Medium Enterprises: "bank services are worse today than a year ago"


Small and medium businesses are now satisfied with the banks less than a year ago. Most of them bother fee structure or lack of customer service.

Based on a research study carried out among 200 companies with a turnover 10–50 million CZK (SMEs) in April 2011 it was UniCredit Bank, which is perceived as the most developed in the range of products and client services in comparison with previous year.

While banks are convinced that their products or client service for the SME category improved, corporate view is different and respondents are rather embarrassed when they are to evaluate banks behavior. The level of client services is stagnating, they say (they were not the best even a year ago), offer of products is worse today and 17 % SME are dissatisfied with their bank today (rather + very dissatisfied).

Discrepancies in perception (by SME and by Banks) of the same things continue in other parameters. One of the significant differences was measured in the evaluation of customer service. Banks in the 69% reported that their customer service improved, but only 10% of SMEs agree with them. Customer service is one of the key items, which SME do not like. Its level could – in certain extent – compensate the most stressing item, which is the fee structure.

However, research has also shown agreement between bankers and SMEs. Both sides have agreed that average interest rates on loans are “a little worse” than a year ago.

The interviewing showed that more critical were companies in Prague and in Bohemia than SMEs located in Moravia.

Ladislav Klika and Tereza Benešová
MindBridge Consulting a.s.
Geologická 2
152 00 Praha 5
T: +420 604 840 604