One in three Dutch companies wants to break up with its bank, but only one in six thinks this is possible, Z24 reports.
The business news site commissioned a study by DVJ Insights to find out how over 500 entrepreneurs feel about their banks. Most Dutch businesses manage their finances through either Rabobank, ABN Amro or ING, which control about 88% of the market. Of the other banks, German Deutsche Bank is the biggest, or rather, the least small. The big three received grades of around 5.7 out of 10 from their clients—the lowest passing grade. Deutsche Bank, which according to Z24 wants to get rid of its Dutch customers, received a 4.
The article doesn’t mention if any of the smaller banks got high grades.
A third of entrepreneurs is considering switching banks, but about half of them think it would be difficult. A reason given is that they also have a private account with the same bank.
One of the reasons businesses are unhappy with their bank is that banks are reluctant to provide loans. In the past two years a third of businesses requested a loan from a bank, but in 64% of the cases these loans were denied.