The survey, conducted by EPSI Rating, is based on a pan European model already used to benchmark banks in 11 other countries, over 20 years.

Professor Jan Eklof, coordinator of the survey commented, “This survey shows that customer satisfaction with Handelsbanken is significantly higher than the industry average and that the bank’s customers are also very loyal. This separates Handelsbanken from other specially analysed banks in the study and depicts results which are consistent with surveys undertaken in other countries.”

Handelsbanken’s decentralised approach allows them to adapt quickly to the requirements and wishes of its customers, with decision making being made locally by its branch managers. This may appear to be a simple proposition, but it is one that is proving successful for the Swedish bank in the UK.

Handelsbanken, which has a rapidly expanding network of over 90 across the country was ranked top by both its business and personal customers in terms of satisfaction and for customer loyalty.

The survey follows record growth numbers in the UK by the bank during 2010, opening 21 branches and the announcement of the opening of a third Regional Head Office in Birmingham to support further expansion in the UK banking market.

Anders Bouvin, head of the bank’s operation in the UK said, “To be ranked top for the second year running in an independent customer satisfaction survey is of course very important for a relationship bank like ours. We have been running the bank according to the same principles for the last 40 years and it appears that our decentralised and customer orientated model is more appreciated now than ever. The fact that we don’t have sales targets or bonus schemes allows us to focus on what really makes a service organisation like ourselves successful in the long run, customer satisfaction.

“We believe in growing our business in a safe and considered way with the emphasis on a very personal relationship with individuals and businesses,” he said.

“The fact that we’re a large Swedish bank with stable finances and a good credit rating by international rating agencies also gives comfort to our customers. The leading financial newspaper in Sweden, Daggens Industri, recently ran an article describing Handelsbanken as the “Safest bank in the world”.

Handelsbanken first came to the UK more than 25 years ago to cater for Nordic businesses and their British subsidiaries, but quickly realised the potential to provide universal banking services locally; the branch network that has followed is one of the most successful branch banking operations set up outside of the high street banks.

Aldermore is the new name in British banking which will provide a range of competitive asset finance facilities for small and medium sized businesses.Borne out of the recent merger of Ruffler Bank and Base Commercial Mortgages, Aldermore is shunning the ‘big is best’ approach adopted by larger banks, in favour of a ‘specialists succeed’ strategy adopted by successful companies in other market sectors.

Phillip Monks, Chief Executive of Aldermore, explains: “Small and medium sized enterprises have had enough of dealing with banks which do not understand either their markets or needs. Aldermore intends to address this issue head-on, by providing a service which is unashamedly specialist.

“We will only operate in markets where we have a real understanding of their requirements. We believe that if we can construct financial deals based on a detailed understanding of the needs of specific market sectors, then we can succeed in areas where bigger banks have failed to show any real interest.”

The business banking services offered by Aldermore will include commercial mortgages, asset finance and leasing facilities, which will be funded via retail deposits raised via a range of fixed rate bonds, notice accounts and ISAs.

Monks said: “Being small and specialist has proven time and again to be a successful strategy for many thousands of British businesses and I believe banking is no different. It is time for banking to get back to its roots and that is what Aldermore is setting out to do.”

Small and medium sized businesses can get further information about the services being offered by Aldermore by going to: www.aldermore.co.uk or by phoning 01733 404515.

Phillip Monks, CEO, Aldermore

Phillip.Monks@anacapfp.com