Corporate treasurers value strategic bank support more than cost, survey
TORONTO--The newly released 2011 survey of the AFP Treasury Benchmarking Program reveals that over 70 percent of corporate treasurers consider a bank’s health when initiating or maintaining a business relationship, and 19 percent changed banks last year due to concerns about a bank’s health. Yet, companies put great value on the stability of their bank group—6 out of 7 say that maintaining a stable bank group is important. Of those surveyed, the average company maintains about five banking relationships, with an average age of 10 years.
The survey evaluates operational issues for treasury departments that directly impact an organization’s success. In its four-year lifespan, this is the first time the survey has emphasized bank relationship management.
View more survey results at www.AFPonline.org/benchmark.
The 2011 survey of the AFP Treasury Benchmarking Program is in partnership with IBM and is underwritten by PNC.