2022 Canstar Bank of the Year – Agribusiness Award winner announced
26 May 2022
Canstar has announced the winner of its 2022 Agribusiness Bank of the Year Award. We reveal the results.
Did you know more than half of all Australia’s land is used for agriculture? As an industry, agriculture is growing, with the gross value of agricultural, fisheries and forestry production increasing by 7% nationally during the last 20 years in real terms, according to the Australian Government.
PwC estimates agribusiness and food is a $256 billion dollar industry in Australia. Resiliency is vital for farmers, with producers across sub-sectors including meat and poultry, grains, horticulture, viticulture and dairy needing reliable, consistent support from their banking institution to help them keep their business viable and on track.
Each year, Canstar’s expert research team assesses relevant options on our database, crunching the numbers and comparing the details of banking institutions to help farmers and others in the agribusiness industry find an award-winning provider. So, who was the top performer for 2022?
Who is Canstar’s 2022 Bank of the Year – Agribusiness Award winner?
National Australia Bank, or NAB, one of Australia’s big four banks, has been recognised as the overall winner in Canstar’s 2022 Bank of the Year – Agribusiness Award. Seven providers on Canstar’s database were assessed as part of this award, with a detailed methodology used by Canstar’s expert research team in determining the overall winner.
What set NAB apart as an award-winning agribusiness provider?
Canstar has recognised NAB as an award-winning agribusiness banking provider in 2022 for its outstanding overall results relative to its competitors, based on a detailed product assessment and a review of its agribusiness banking services. Canstar’s Agribusiness Award assessed the relative performance of eligible banking institutions on Canstar’s database in offering:
- A strong combination of products across Canstar’s underlying business banking Star Ratings profiles, including for business credit cards, business loans (overdraft and term loans), business savings accounts and business transaction accounts, as well as for farm managed deposits
- Excellence across a range of agribusiness banking services, including for:
- physical presence
- online banking functionality
- support services
- insights and education
- other services and advice.
As part of the award, Canstar factored in specialist products banking institutions offer for the agribusiness sector, including seasonal finance, equipment finance, environment loans, special purpose loans, risk management services, investments, insurance and international banking.
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About Canstar’s Research team
Canstar’s Research team provides the expertise that powers our Star Ratings and Awards, designed to help consumers make better-informed financial decisions. As Australia’s biggest financial comparison site, Canstar researches and rates products from more than 775 brands, across more than 30 finance categories. Our expert researchers analyse products we rate by comparing price and features, with the top products being recognised with a 5-Star Rating. Our Star Ratings are made available for consumers to view for free via Canstar’s comparison tables. Providers whose products perform strongly in our Star Ratings may be recognised with an Outstanding Value Award.
→ Discover Canstar’s latest Star Ratings and Award winners
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This article was reviewed by our Sub Editor Tom Letts before it was updated, as part of our fact-checking process.
