In the six months since September 2011, the trend has changed, with Westpac, ASB and Bank of New Zealand gaining MFI customers, while Kiwibank remains steady.
Share of MFI Customers
Source: Roy Morgan Research Single Source, 12 month moving average, average sample Mar 06 – Feb 12, n = 10,200.
The data comes from Roy Morgan’s Single Source consumer survey, which includes information based on over 12,000 New Zealanders annually.
Pip Elliott, Client Services Director, Roy Morgan Research, says:
“On the other hand, the Bank of New Zealand, ASB Bank and Westpac Group have all managed to keep a fairly consistent share of MFI customers over the past five years, while ANZ Group and National Bank have both seen a decrease in their shares.
“It will be interesting to see whether Kiwibank’s increase in MFI customer share will have any impact on their high customer satisfaction level. The answer to this question will be made evident in Roy Morgan Research’s upcoming Customer Satisfaction Awards release later this month.”
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