- ANZ's measure of customer satisfaction with its business customers has hit a new low, at least according to the relatively immature monitor published by DBM Consultants. DBM's business financial services monitor put ANZ's rating at 6.7 on a 10 point scale that covers ratings on Australian businesses of all sizes. ANZ ranks below its big bank peers among large, medium and small businesses. The DBM rankings tend to bunch bank customers' ratings in a narrow range either side of seven out of 10. A divergence is emerging on DBM's measure of the satisfaction of large businesses, however, with Commonwealth Bank now ranked at 8.1 out of 10, with NAB and Westpac at 7.4, and ANZ at 7.0.
- Citic Securities will buy a 19.9 per cent stake in the investment bank CLSA Asia Pacific Markets for US$310 million from French bank Credit Agricole. Citic Securities has an option to buy the remainder by June 2013. Citic first held talks with CLSA about a collaboration more than two years ago. Listed on the Shangai and Hong Kong stock exchanges Citic Securities is part of the financial conglomerate CITIC Group.
