More than six in ten UK businesses have stuck with the same bank over the last five years, according to a poll by the Institute of Directors (IoD).
The survey shows that 44 per cent have been with their bank more than a decade and 20 per cent had remained loyal for between five and ten years.
The figures come despite sweeping changes to the banking sector in 2002, which followed revelations that the 'big four' banks were overcharging small- to medium-sized enterprises (SMEs) customers to the tune of Ј1bn a year.
Subsequently, smaller banks - like Abbey National, Alliance and Leicester and HboS - have launched campaigns to take away small business customers from the big four, which still enjoy the lion's share of the market.
