The bank is still favoured by small and medium-sized enterprises, a survey has revealed.
Consumer satisfaction for the so-called big four banks has reduced since the interest rate rises last year, it has been revealed.
According to data discovered in the DBM Consultants' monthly nationwide survey of businesses, Westpac still remains the number one choice for small and medium-sized enterprises (SMEs), the Australian Associated Press reports.
DBM managing director Dhruba Gupta said the November interest rate rise - in which the Reserve Bank of Australia (RBA) upped the official cash level from 4.5 per cent to 4.75 per cent - may have had an impact on the latest results.
He added: "[The hike] created downward pressure on the ratings, more so for Westpac, CBA and National Australia Bank than for ANZ [Banking Group]."
Following the last increase by the RBA, the Commonwealth Bank opted to up the rates on its savings accounts and home loan products, which may have led to financial issues for its mortgage customers.
By Nate Sawyer
