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The latest East and Partners research confirms National Australia Bank (NAB) continues to build market share in transaction banking.
The highly competitive transaction banking segment excludes lending and acquiring, but covers all other cash management, payable and receivable categories.
NAB Chief Operating Officer Business and Private Bruce Munro said: "NAB has re-focused on transaction banking over the past 18 months, working to improve customer service and simplify the processes and product offering.
"We're happy with the progress so far, but there's a long way to go before we are truly competitive across all segments.
"The first 2006 East and Partners transaction banking quarterly survey (released in March) found that in the Micro business segment (refer table 1) we extended our leading market share by 0.2% to 26.7%.
"In the second quarterly East and Partners transaction banking survey (released in May), NAB was the only major bank to have grown market share in the Commercial segment (refer table 1) Second-placed in the segment, we grew market share by 1.1% to 19.6%, and are closing the gap on first-placed CBA," Mr Munro said.
"It is also pleasing to note that NAB has the fastest growing customer satisfaction in transaction banking among the majors in the Commercial segment over the past 12 months," Mr Munro said.
In the SME and Corporate segments according to the most recent surveys, conducted in October and November 2005 respectively, NAB continues to build momentum.
"In the SME segment (refer table 1) in the 6 months to October 2005, NAB gained 0.4% market share and regained its lead in this market. Currently 20.6% of all SMEs use NAB for their transaction banking.
"In the Corporate segment (refer table 1) in the 6 months to November 2005, NAB grew its primary relationship market share by 0.8% to 17.1%, thus continuing a positive growth trend since May 2003. Despite still ranking fourth in the Corporate segment, NAB was the only major bank to grow it's market share in this segment," Mr Munro said.
Table 1
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Business
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Turnover
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Segment
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NAB's Ranking
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Market Share
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>$340m
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Corporate
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4
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17.1%
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Transaction Banking
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$20m - $340m
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Commercial
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2
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19.6%
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$5m - $20m
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SME
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1
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20.6%
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$1m - $5m
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Micro
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1
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26.7%
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For further media information, please contact:
John Fergusson
Corporate Affairs Manager
Business & Private
National Australia Bank
Tel: (03) 8634 3845
Mob: 0407 826 952
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