Consumer Banking Satisfaction
Source: Roy Morgan Research Consumer Banking Satisfaction Report, April 2012, average 6 monthly sample for big four banks. n = 17,900.
Over the last 12 months all of the big four have shown an increase in satisfaction, led by the NAB which rose 5.8% points due largely to an improvement among their non home loan customers (up 6.6% points). The CBA is up 5.7% points over the year due to a big improvement among both home loan customers (up 9.4% points) and non home loan customers (up 5.0% points). They were followed by Westpac (up 1.1% points) and ANZ (up 0.3%). The NAB remains on top in terms of satisfaction among the big four with a level of 77.7% but the CBA has now moved into second place on 77.2% and are followed by ANZ (75.5%) and Westpac (75.0%).
Norman Morris, Industry Communications Director, Roy Morgan Research, says:
“Despite this relatively poor performance of the big four among their personal banking customers, the level of satisfaction among their business customers lags well behind with an average in April of only 64.1% (compared to 76.5% for personal customers). When it is taken into account that the majority of businesses in Australia are very small, the finances of the owners are generally going to be linked to their personal banking and as a result a low satisfaction score among the 2 million business customers is likely to be a drag on consumer banking satisfaction.”
The latest detailed Roy Morgan ‘Consumer Satisfaction – Consumer Banking Report in Australia’ brands include all major banks, building societies and credit unions.
In the latest detailed Roy Morgan ‘Business Satisfaction – Business Banking Report in Australia’ , brands include ANZ, Bank of Queensland, Bankwest, Bendigo Bank, Citibank, Commonwealth Bank, Macquarie Bank, National Australia Bank, St George Bank, Suncorp and Westpac.
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