Bank product usage of corporate customers

According to GfK Hungária’s Corporate Banking Monitor survey for 2010, there were no significant changes in the bank product usage of Hungarian enterprises in the last couple of years. The most important factor in choosing a current account is the different fees. If compared with non-corporate customers, a higher proportion of enterprises use electronic (75 percent) and online (70 percent) banking services.

A bank should focus on reliable operation, security and system speed if they want to provide quality service, as these are the most important aspects of choosing and evaluating these types of service. A significant growth occurred in telebank usage in the last twelve months, about one third of enterprises now use this type of service. There was a moderate growth in the number of corporate foreign currency account holders, especially among larger firms. Nearly half of enterprises have Forint deposits, a bit less than a year ago. As for liquidity and interest rate yield, smaller companies prefer a more flexible access, while bigger enterprises are more willing to sacrifice liquidity for a higher yield. When taking out loans, enterprises primarily consider low costs and the level of interest rates – 59 percent said these were the most important factors. A quick decision by the bank was important for 25 percent and 16 percent considered low coverage to be crucial.