Saturday, September 14th, 2013 - Roy Morgan Research

Kiwibank has again done the best of New Zealand’s six major banks for customer satisfaction, Roy Morgan’s latest consumer research reveals.

The October results have Kiwibank down 2% points to 83% satisfaction, narrowing its margin over Bank of New Zealand and National Bank, both up 1% point to 82%.

Kiwibank has ranked first of the six major banks every month since mid-2008.

The gap between all six has also decreased, with both Westpac and ANZ making gains. Westpac scored the largest upswing: 2% points on September’s result.

The October results coincide with the start of ANZ’s phase-out of its National Bank brand. Satisfaction for National Bank rose for the fifth consecutive month; ANZ tracked steady at 75%.

New Zealand Major Banking Customer Satisfaction

Source: Roy Morgan Single Source (New Zealand), New Zealanders 14+, May 2010 – October 2012 6 month moving average sample (n = 10,852). Satisfaction is based on customers who answered Very or Fairly Satisfied (excludes respondents who ‘Can’t Say’ Institution).

These figures are rounded to the nearest per cent. More detailed findings are available in Roy Morgan’s Customer Satisfaction – Consumer Bank in New Zealand monthly report for October 2012.

Pip Elliott, General Manager, Roy Morgan Research NZ, says:

“The narrowing gap between the six major banks is a result of an increasing customer focus across the sector.

“It will be interesting to see what the impact will be on ANZ over the coming year as it continues to dissolve the National Bank brand.

“Roy Morgan is able to shed further light on banking customer satisfaction ratings by analysing the results through further breakdown of bank customers by demographics, psychographics, attitudes, banking habits such as accessing information from a mobile phone or the internet, and switching behaviour.”

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Roy Morgan Research is the largest independent Australian research company, with offices in each state of Australia, as well as in New Zealand, the United States and the United Kingdom. A full service research organisation specialising in omnibus and syndicated data, Roy Morgan Research has over 70 years’ experience in collecting objective, independent information on consumers.

In Australia, Roy Morgan Research is considered to be the authoritative source of information on financial behaviour, readership, voting intentions and consumer confidence. Roy Morgan Research is a specialist in recontact customised surveys which provide invaluable and effective qualitative and quantitative information regarding customers and target markets.
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