After rating products available to agribusiness customers, including business loans, business credit cards and business deposit accounts, Canstar has announced the winner of the Bank of the Year – Agribusiness Award. Canstar’s Business Banking Star Ratings are designed to help consumers create a shortlist of products that offer outstanding value to Australian consumers by comparing both the price and features of each product and comparing like for like products available in the market.
The Bank of the Year – Agribusiness Award is awarded to the institution that provides a strong combination of products across business banking star ratings profiles, as well as excelling in a range of institutional factors as listed below. The award aims to provide recognition to the institution that backs up quality products with great service to agribusiness customers.
In deciding the winner, the following factors were considered:
- Business finance products:
- Terms loans
- Overdrafts
- Credit cards
- Deposit products:
- Term deposits
- Farm management deposit (FMD) accounts
- Savings accounts
- Transaction accounts
- Additional products, like seasonal finance, environmental loans and equipment finance
The following table displays a snapshot of business transaction account products on Canstar’s database. The display is sorted by Star rating (highest to lowest) and listed by provider name (alphabetically) for full service transaction types. Results based on high transactor.
The institutional factors considered include:
- Relationship managers
- Online business banking functionality
- Information and education services
- Industry support and sponsorships
- Industry benchmarking availability
The Bank of the Year – Agribusiness Award is awarded to the institution that receives the highest score across the board.
For more information about the specifics of the methodology and how ratings were determined, view the ratings methodology.
Award Winner – ANZ
Following Canstar Research’s rigorous ratings process, the Bank of the Year – Agribusiness has been awarded to ANZ for the third year in a row. Canstar Research noted ANZ’s retention of the award was based on the strength of the product offering and institutional services with strong relationship manager and branch representation throughout the country. It provided an impressive availability of benchmarking in all states, specific to a number of industries and presented a strong farm management deposit (FMD) at call. It also continued support for the industry including through sponsorship for awards such as Cotton Grower of the Year, scholarships and the Seeds of Renewal grants program.
We have provided a snapshot of ANZ’s agribusiness loans which accommodate for $250,000 loans, in NSW, that are secured by commercial property and farm. You can use this comparison tool for yourself to compare all providers on our database, here.
Who is ANZ?
ANZ’s history dates back about 180 years to 1835, first starting out in London and Sydney as the Bank of Australasia. Now one of the Big Four banks in Australia, ANZ is the largest banking group in the Pacific and New Zealand region.
ANZ is ranked among the top 50 banks in the world and provides banking and financial products to over 9 million customers in 30 countries.
As well as agribusiness, ANZ offers a whole host of products and services to customers, including credit cards, home loans, insurance, superannuation and much more. ANZ has won many awards with Canstar, including the 2017 , 2016, 2013, 2011 and 2010 awards for Bank of the Year – Agribusiness.
ANZ also funds many causes to benefit the regional Australian community through three types of community grants.
ANZ aims to become a super-regional bank, and one of its key business strategies is a focus on agribusiness.
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