Survey on lending and current accounts for SMEs
1. Management Summary
2. Research design
3. Research findings
SME Lending
Almost all SMEs with a loan, have a loan at one of the three major banks in the Netherlands: Rabobank,
ABN AMRO or ING.
Overdraft is the most common type of lending.
Half of the SMEs have loans less than 25,000 euros.
Most SMEs contacted only their current bank for an offer.
SMEs didn’t do any orientation, because they have a good relationship with their bank, there is no need
for and they are satisfied with their current bank.
Preferences for different types of banks
Major Dutch banks are highly preferred over minor Dutch banks and foreign banks.
47% of the SMEs who prefer a major Dutch bank over a minor Dutch bank will switch banks for a
difference in interest rate lower than <2%.
46% of the SMEs who prefer a major Dutch bank over a foreign bank would not switch banks for any
difference in interest rates.
45% of the SMEs who prefer a minor Dutch bank over a foreign bank would not switch banks for any
difference in interest rates.
-1-© GfK 2014 | Survey on lending and current accounts for SMEs | April 2014 5
Current accounts for SMEs
Almost all SMEs have a current account at one of the three major banks in the Netherlands.
Most SMEs have a loan at the same bank where they already had the main current account because it
is convenient.
SMEs find it important to have a current account and loan at the same bank, especially for a mortgage.
Convenience is the most important reason to stay with the same bank for different products.
The majority of the SMEs never switched banks with their main current account.
SMEs never switched banks because they have no reason, cause or need to switch or they are
satisfied with the current bank.
Almost 6 out of 10 SMEs never switched banks because they find it easy to have all financial products
at the same bank.
From all the SMEs who didn’t switch banks because it costs too much time and effort, the most
important barrier to switch seems to be the lack of numberportability.
The Net Promotor Score of the banks is -26.
For 80% of the SMEs the probability of switching banks in the next year is less than 20%.
Acquaintance with the switching service
More than half of the SMEs have never heard of the “overstapservice” (switching service).
Of the SMEs who say they know the switching service, only 38% actually know what it does.
The majority of the SMEs who say they don’t know the switching service, will not switch even when
knowing what the switching service does.
Fieldwork period
: 13 - 26 February 2014
Target group
: small or medium-sized enterprises (SMEs) that has one
or more loans with a bank
Weighting
: the sample is weighted to reflect the Dutch population
of SMEs by sector and size
Method
: online research
Response rate
: 68%
Sample size
: the net sample consists of 509 respondents
Almost all SMEs with a loan, have a loan at one of
the three major banks
Almost all SMEs with a loan, have a loan at one of the three major banks in the Netherlands: Rabobank (46%), ABN AMRO (28%) or ING (26%).
46 28 26 3 3 3 2 2 2 4 0 5 10 15 20 25 30 35 40 45 50 Rabobank ABN AMRO ING SNS Bank Triodos Bank Deutsche Bank Fortis Bank RBS Svenska Handelsbanken Andere bank
Bij welke bank(en) heeft uw bedrijf een vorm van zakelijk krediet lopen? At which bank(s) does your company have a loan?
multiple answers possible
Base: all SMEs (n = 509)
Rabobank (44%), ABN AMRO (26%) and ING (23%) are also seen as the main bank for their loan. 44 26 23 1 1 1 0 0 0 4 0 5 10 15 20 25 30 35 40 45 50 Rabobank ABN AMRO ING SNS Bank Triodos Bank Deutsche Bank Fortis Bank RBS Svenska Handelsbanken Andere bank
Welke bank beschouwt u voor het zakelijk krediet als de belangrijkste bank? Which bank do you see as the main bank for the loan?
The same three banks are seen as the main bank
for their loan
Overdraft is the most common type of lending
Overdraft is the most common type of lending (80%). Mortgages (13%) are less popular.
80 13 8 7 1 5 4 0 10 20 30 40 50 60 70 80 90
Rekening courant krediet
Hypothecair krediet
Lening met onderpand
Lening zonder onderpand
Leasing / factoring
Andere kredietvorm
Weet ik niet
Welke vorm van zakelijk krediet heeft uw bedrijf bij deze bank?
Which type of loan do your company have at this bank?
multiple answers possible
Base: all SMEs (n = 509)
Overdraft is also seen as the main lending
Overdraft is also seen as the main lending (72%). Mortgages (10%) are less seen as the main lending.
72 10 5 5 0 5 3 0 10 20 30 40 50 60 70 80
Rekening courant krediet
Hypothecair krediet
Lening met onderpand
Lening zonder onderpand
Leasing / factoring
Andere kredietvorm
Weet ik niet
Welke kredietvorm beschouwt u als uw belangrijkste krediet?
Which type of loan do you see as the main lending?
Half of the SMEs have loans of less than 25,000
euros
Half of the SMEs (51%) have loans less than 25,000 euros.
Almost one out of five SMEs (18%) have loans for more than 100,000 euros.
51
24
18
7
0 10 20 30 40 50 60
Minder dan 25.000 euro
Tussen de 25.000 en 100.000 euro
100.000 euro of meer
Weet ik niet
Hoe hoog is dit krediet? (alle kredieten opgeteld)
Which amount is the loan? (all loans together)
Base: all SMEs (n = 509)
%
Most SMEs contacted only their current bank for
an offer
Most SMEs only contacted their current bank for an offer (75%). 17% contacted more than one bank for a loan offer. 75 11 2 4 8 0 10 20 30 40 50 60 70 80
Alleen bij de huidige bank
Bij de huidige bank en 1 andere bank
Bij de huidige bank en 2 andere banken
Bij de huidige bank en meer dan 2 andere banken
Weet ik niet meer
SMEs didn’t do any orientation: they have a good
relationship, there is no need for and they are satisfied
SMEs didn’t do any orientation, because they have a good relationship with their bank (24%), there is no need for it (23%) or they are satisfied with their current bank (19%).
* The percentages in the chart are rounded to the nearest whole number and therefore not add up to 100%.
24 23 19 5 3 2 2 17 6 0 5 10 15 20 25
Huisbank / Ik heb een goede relatie met de huidige bank Daar heb ik geen behoefte aan Ik ben tevreden met de huidige bank Overstappen was niet mogelijk i.v.m. contractuele verplichtingen Wij krijgen toch geen krediet bij een andere bank Alle financiele zaken zijn bij mijn huidige bank geregeld Veranderen van bank kost teveel tijd en/of moeite Andere reden Geen antwoord gegeven
Waarom heeft uw bedrijf niet georiënteerd bij andere banken?
Why didn’t your company do any orientation at other banks?
Base: all SMEs who didn’t do any orientation at other banks (n = 299)
Major Dutch banks are highly preferred over minor
Dutch banks and foreign banks
Major Dutch banks are highly preferred over minor Dutch banks (43% vs 13%) and foreign banks (59% vs 4%).
Comparing to foreign banks, Minor Dutch banks are preferred by 54% vs 5%.
19 36 31 24 23 23 44 38 41 7 2 3 6 2 2 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Grote Nederlandse bank Grote Nederlandse bank Kleine Nederlandse bank << < <> > >>
Kunt u aangeven in welke mate u een voorkeur heeft voor de verschillende typen banken?
To what extent do you prefer the following types of banks?
Kleine
Nederlandse bank
Buitenlandse
bank*
Buitenlandse
bank*
47% who prefer a major Dutch bank over a minor Dutch bank
will switch banks for a difference in interest rate lower than 2%
47% of the SMEs who prefer a major Dutch bank over a minor Dutch bank will switch banks for a difference in interest rate lower than <2%.
28% of the SMEs who prefer a major Dutch bank over a minor Dutch bank would not switch from a major to a minor Dutch bank for any difference in interest rates.
* The percentages in the chart are rounded to the nearest whole number and therefore not add up to 100%. 15 32 15 8 28 0 5 10 15 20 25 30 35 Minder dan 1% 1 tot 2% 2 tot 3% 3% of meer
Bij geen enkel renteverschil
Bij welk renteverschil zou u, bij het aangaan van een nieuw krediet, kiezen voor een kleine Nederlandse bank in plaats van een grote Nederlandse bank? At what difference in interest rate would you switch from a major Dutch bank to a minor Dutch bank regarding a new loan?
Base: all SMEs who prefer a major Dutch bank over a minor Dutch bank
46% who prefer a major Dutch bank over a foreign bank
would not switch banks for any difference in interest rates
46% of the SMEs who prefer a major Dutch bank over a foreign bank would not switch banks for any difference in interest rates.
Even at a difference of 3% or more, few SMEs will switch banks (13%). 7 16 17 13 46 0 5 10 15 20 25 30 35 40 45 50 Minder dan 1% 1 tot 2% 2 tot 3% 3% of meer
Bij geen enkel renteverschil
Bij welk renteverschil zou u, bij het aangaan van een nieuw krediet, kiezen voor een buitenlandse bank in plaats van een grote Nederlandse bank?
At what difference in interest rate would you switch from a major Dutch bank to a
45% who prefer a minor Dutch bank over a foreign bank
would not switch banks for any difference in interest rates
45% of the SMEs who prefer a minor Dutch bank over a foreign bank would not switch banks for any difference in interest rates.
At a difference of 3% or more, almost a quarter of the SMEs will switch banks (23%). 4 18 10 23 45 0 5 10 15 20 25 30 35 40 45 50 Minder dan 1% 1 tot 2% 2 tot 3% 3% of meer
Bij geen enkel renteverschil
Bij welk renteverschil zou u, bij het aangaan van een nieuw krediet, kiezen voor een buitenlandse bank in plaats van een kleine Nederlandse bank?
At what difference in interest rate would you switch from a minor Dutch bank to a foreign bank regarding a new loan?
Base: all SMEs who prefer a minor Dutch bank over a foreign bank (n = 251)
Almost all SMEs have a current account at one of
the three major banks
Almost all SMEs have a current account at one of the three major banks in the Netherlands: Rabobank (50%), ING (32%) or ABN AMRO (28%).
50 32 28 3 2 1 2 0 10 20 30 40 50 60 Rabobank ING ABN AMRO SNS Bank Triodos Bank Deutsche Bank Anders
Bij welke bank(en) heeft uw bedrijf het betalingsverkeer geregeld?
At which bank(s) does your company have a current account?
The same three banks are seen as the main bank
for the current account
Rabobank (45%), ABN AMRO (25%) and ING (24%) are also seen as the main bank for the current account. * The percentages in the chart are rounded to the nearest whole number and therefore not add up to 100%.
45 25 24 1 1 1 2 2 0 5 10 15 20 25 30 35 40 45 50 Rabobank ABN AMRO ING SNS Bank Triodos Bank Deutsche Bank Anders
Ik heb geen belangrijkste bank
Welke bank beschouwt u voor het betalingsverkeer als de belangrijkste bank?
Which bank do you see as the main bank for the current account?
Base: all SMEs (n = 509)
Most SMEs have a loan at the same bank where they
already had the main current account because it is
convenient
64% of the SMEs already had a current account at the same bank before they applied for a loan. They found it convenient to go to the same bank.
Only 6% of the SMEs indicate that it was obligatory to open a current account when applying for a loan.
64 9 7 6 1 12 0 10 20 30 40 50 60 70
Mijn bedrijf had al een betaalrekening bij de bank en ik vind het handig om het krediet bij dezelfde bank af te nemen
Mijn bedrijf had al een krediet bij de bank en ik vind het handig om de betaalrekening bij dezelfde bank af te nemen
De bank van mijn belangrijkste betaalrekening deed het beste aanbod voor het krediet
Het was verplicht een betaalrekening te openen bij het krediet
Het was verplicht een krediet te nemen bij het openen van de betaalrekening
Geen van bovenstaande opties
Kies de stelling die het beste uw situatie beschrijft.
Choose the statement that best describes your situation.
SMEs find it important to have a current account
and loan at the same bank
SMEs find it important to have a current account and loan at the same bank, especially for a mortgage (62%). 62 56 55 51 42 63 0 10 20 30 40 50 60 70 80 90 100 Hypothecair krediet
Rekening courant krediet
Leasing / factoring
Lening zonder onderpand
Lening met onderpand
Andere kredietvorm
Kunt u per kredietvorm aangeven hoe belangrijk u het vindt om het
betalingsverkeer en het zakelijk krediet bij dezelfde bank af te nemen?
Can you indicate for each type of loan how important it is to take a current account and loan at the same bank?
Base: all SMEs (n = 509)
%
Convenience is the most important reason to stay
with the same bank for different products
Convenience is the most important reason to stay with the same bank for different products (42%). Other important reasons are surveyable (26%) and one point of contact (16%).
42 26 16 8 8 4 0 5 10 15 20 25 30 35 40 45 Gemakkelijk Overzichtelijk Eén aanspreekpunt Veilig / vetrouwd Andere reden
Weet niet / geen antwoord
Waarom vindt u het belangrijk om het betalingsverkeer en het krediet bij dezelfde bank af te nemen? Why do you find it important to take a current account and loan at the same bank?
The majority of the SMEs never switched banks
with their main current account
The majority of the SMEs (71%) never switched banks with their main current account. 6% of the SMEs switched more than once from main current account.
SMEs with 10-49 employees have never switched banks less frequently (48%).
71 20 6 3 0 10 20 30 40 50 60 70 80 Nog nooit Eén keer
Meer dan één keer
Weet ik niet
Hoe vaak is uw bedrijf in het verleden gewisseld van bank voor de belangrijkste betaalrekening?
How often your company switched banks with the current account?
Base: all SMEs who have a main bank (n = 490)
SMEs never switched banks because they have no
reason, cause or need to switch
For this question the respondent was asked to indicate their own motivations for not switching bank in the past. The provided information was then coded into the above mentioned answer categories.
SMEs never switched banks because they have no reason, cause or need to switch (40%) or they are satisfied with the current bank (25%).
Waarom is uw bedrijf nog nooit gewisseld van bank voor de belangrijkste
betaalrekening?*
What are the most important reasons your company never switched banks with the current account?*
%
40 25 8 7 3 3 2 1 7 5 0 5 10 15 20 25 30 35 40 45Almost 6 out of 10 never switched because they find it
easy to have all financial products at the same bank
Almost 6 out of 10 SMEs never switched banks because they find it easy to have all financial products at the same bank (59%). For 20% this is the most important reason.
Other important reasons are: I feel at home with this bank (50%), switching banks costs too much time and effort (37%) and too little financial advantage (36%).
* This question was asked three consecutive times and therefore not add up to 100%.
20 27 21 13 7 3 1 2 2 0 0 0 5 24 15 8 12 4 8 6 4 3 0 0 1 4 15 8 8 11 7 3 6 8 2 3 1 0 2 59 50 37 36 18 14 14 13 7 4 1 1 8 0 10 20 30 40 50 60 70
Ik vind het handig dat alle financiële zaken bij dezelfde bank geregeld zijn Ik voel me thuis bij de huidige bank Veranderen van bank kost teveel tijd en/of moeite Veranderen van bank levert te weinig financieel voordeel op Nog nooit over nagedacht Alle banken zijn toch hetzelfde Bij het veranderen van bank kan er te veel mis gaan Ik vind het moeilijk om banken met elkaar te vergelijken De huidige bank biedt de beste prijs-/kwaliteitverhouding Ik vertrouw andere banken niet Als ik wissel van bank loop ik korting op andere financiële producten mis Ik wist niet dat ik kon wisselen van bank Anders
Belangrijkste reden Eén na belangrijkste reden Twee na belangrijkste reden
Wat zijn de belangrijkste redenen waarom uw bedrijf bij de huidige bank is gebleven voor de belangrijkste betaalrekening? What are the most important reasons for staying with this bank with the current account?
Base: all SMEs who never switched banks with the current account (n = 253)
The most important barrier to switch seems to be
the lack of numberportability
From all the SMEs who didn’t switch banks because it costs too much time and effort, the most important barrier to switch seems to be the lack of numberportability (75%).
75 42 34 20 11 11 15 0 10 20 30 40 50 60 70 80
Mijn bedrijf moet voor betalingen en bijschrijvingen anderen op de hoogte brengen van het nieuwe rekeningnummer
Mijn bedrijf moet de systemen van de nieuwe bank aanleren
Mijn bedrijf moet de financiële administratie van de huidige bank opslaan of uitprinten
Mijn bedrijf moet informatie opzoeken over andere banken
Mijn bedrijf moet wachten op een nieuwe pinpas
Mijn bedrijf moet een nieuwe pincode onthouden
Anders
Waarom kost het volgens u veel tijd en/of moeite om te veranderen van bank? Why do you think switching banks will cost you too much time and effort?
The Net Promotor Score of the banks is -26
The Net Promotor Score is a customer satisfaction metric and is calculated by subtracting the percentage of customers who are Detractors (score of 0 to 6) from the percentage of customers who are Promoters (score of 9 and 10. 5 2 2 1 2 10 18 20 26 10 4 0 5 10 15 20 25 30
0 Helemaal niet waarschijnlijk 1 2 3 4 5 6 7 8 9 10 Zeer waarschijnlijk
Hoe waarschijnlijk is het dat u de betaalrekening van deze bank zal aanbevelen aan een ander bedrijf? What is the likelihood that you will recommend the current account of this bank to another company?
Base: all SMEs who have a main bank (n = 490)
%
For 80% of the SMEs the probability of switching
banks in the next year is less than 20%
For 80% of the SMEs the probability of switching banks in the next year is less than 20%. For only 5% the probability of switching in the next year is more than 60%.
54 26 6 9 2 1 2 0 10 20 30 40 50 60
Ik zal niet overstappen
0 - 20%
21 - 40%
41 - 60%
61 - 80%
81 - 100%
Ik zal zeker overstappen
Hoe groot is de kans dat uw bedrijf het komende jaar gaat wisselen van bank voor de belangrijkste betaalrekening? What is the probability of switching banks with your main current account in the next year?
More than half of the SMEs have never heard of
the “overstapservice” (switching service)
More than half of the SMEs (55%) have never heard of the “overstapservice” (switching service). 26% says to know the switching service and 19% knows it only by name.
26
19
55
0 10 20 30 40 50 60
Ja, ik weet wat de overstapservice is
Ja, maar ik ken alleen de naam
Nee, nog nooit van gehoord
Kent u de overstapservice?
Do you know the switching service?
Base: all SMEs (n = 509)
Of those who say they know the switching service,
only 38% know what it does
Of the SMEs who say they know the switching service, only 11% actually know what it does and 27% partially.
25% thinks that the switching service takes care of everything and 31% give a wrong description of it. 11 27 25 31 5 0 5 10 15 20 25 30 35
Weet in grote lijnen hoe de Overstapservice werkt
Weet deels hoe de Overstapservice werkt
Gaat er vanuit dat de Overstapservice alles regelt
Weet niet hoe de Overstapservice werkt
Geen antwoord gegeven
Wat regelt de Overstapservice volgens u? According to you, what does the switching service do?
Base: all SMEs who say they know the switching service (n = 329)
Even when knowing what the switching service
does, most of the SMEs will not switch
The majority of the SMEs who say they don’t know the switching service, will not switch even when knowing what the switching service does.
The probabilities of switching are higher than in slide 30.
* The percentages in the chart are rounded to the nearest whole number and therefore not add up to 100%.
41 30 12 12 0 1 3 0 5 10 15 20 25 30 35 40 45
Ik zal niet overstappen
0 - 20%
21 - 40%
41 - 60%
61 - 80%
81 - 100%
Ik zal zeker overstappen
Hoe groot is de kans dat uw bedrijf het komende jaar gaat wisselen van bank voor de belangrijkste betaalrekening? What is the probability of switching banks with your main current account in the next year?
Base: all SMEs who say they don’t know the switching service (n = 180)
