Farmer confidence in their banks has plummetted to the lowest level in nearly a decade.

Federated Farmers carried out a banking survey of more than 640 farmers in May that found only 51 per cent of them were satisfied with their banks - down from 80 per cent in 2018.

Federated Farmers' commerce and competition spokesman Richard McIntyre joined The Country's Jamie Mackay to discuss.

LISTEN ABOVE