Saturday, September 14th, 2013

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

Roy Morgan Research is Australia’s best known and longest established market research and public opinion survey company. Roy Morgan Single Source is thorough, accurate, and provides comprehensive, directly applicable information about current and future customers. It is unique in that it directs all the questions to each individual from a base survey sample of around 55,000 interviews in Australia and 15,000 interviews in New Zealand annually - the largest Single Source databases in the world. The questions asked relate to lifestyle and attitudes, media consumption habits (including TV, radio, newspapers, magazines, cinema, catalogues, pay TV and the Internet), brand and product usage, purchase intentions, retail visitations, service provider preferences, financial information and recreation and leisure activities. This lead product is supported by a nationally networked, consultancy-orientated market research capability.
Shaun Ellis
P: 03 9224 5332


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