ANZ Scores a Bank of the Year | Small Business Award Hat-trick

Congratulations, yet again, goes to the ANZ, for winning Canstar’s Bank of the Year | Small Business.

It’s a remarkable feat that comes on the back of two other Canstar Business Banking Award wins for the ANZ in 2022.

This year, the ANZ has added these Canstar awards to its trophy cupboard:

• Bank of the Year | Small Business
• Bank of the Year | Business Credit Cards
• Most Satisfied Customers | Small Business Merchant Services

Bank of the Year | Small Business Award

For this year’s Bank of the Year Award, Canstar assessed five eligible banking institutions. They were rated across:

• Products: for example, lending, deposit and savings accounts
• Business banking services: including, support services, advice, insights and physical branches
• Customer satisfaction: covering value for money, communication and dispute resolution

In total, our expert research team crunched the numbers on over 50 banking products, including: credit cards, business loans and equipment finance, business savings and transaction accounts, insurance, international banking and risk management.

And coming out on top, in a remarkable three-peat achievement is ANZ, the winner of Canstar’s Bank of the Year | Small Business Award 2022.

Why ANZ won Bank of the Year | Small Business

Canstar’s latest small business research reveals that small businesses are experiencing some relief in the post-Covid economy.

A quarter of the country’s small business owners intend to expand their businesses over the next year. And many are looking to add staff and improve on the technologies they employ. These ambitions are despite concerns about cashflow and an uncertain economic forecast.

Against this continued backdrop of uncertainty, while our research team found the small business products offered by the banks have remained relatively stable, there persists some large gaps in business consumer satisfaction with their banking providers.

And, ultimately, it is ANZ’s performance in the Customer Satisfaction element of our award that secures them the No.1 position. ANZ scores highly across all components of customer satisfaction in our research, including Customer Service and Communication.

Jose George, Canstar New Zealand general manager, says the sweep of awards shows ANZ remains a highly valued partner for small business owners.

“Through a time of stress and uncertainty, ANZ clearly stepped up for small business. Our research shows how incredibly difficult the last few years have been, but many small businesses are now looking to the future and how they can evolve and thrive in this changed world.

“Congratulations to the ANZ for truly stellar results across all our small business awards.”

For more on the ANZ's Bank of the Year | Small Business win, click here!

About the author of this page

This report was written by Canstar’s Editor, Bruce Pitchers. Bruce began his career writing about pop culture, and spent a decade in sports journalism. More recently, he’s applied his editing and writing skills to the world of finance and property. Prior to Canstar, he worked as a freelancer, including for The Australian Financial Review, the NZ Financial Markets Authority, and for real estate companies on both sides of the Tasman.