Original article by Roy Morgan
Market Research Update – Page: Online : 19-Oct-18
New results from Roy Morgan shows that bank customer satisfaction has declined from 81.2% in the six months to January 2018, prior to the Finance Royal Commission, to 78.5% in the six months to September 2018. This decline of 2.7% points was mainly due to a drop in satisfaction of 3.6% points (to 75.6%) for the big four banks, compared to an overall decline of only 0.7% points for all other banks (to 84.2%). Among the 10 largest consumer banks, Bendigo Bank has the highest satisfaction with 88.8%, followed by ING (88.0%) and Bank of Queensland (87.2%). The best of the big four is the CBA on 77.1%, followed by NAB (75.3%). The most positive movers in satisfaction ratings since the Royal Commission are ING (up 2.8%) and Bank of Queensland (up 1.4%). All of the big four banks have shown declines in satisfaction over the period, with Westpac showing the greatest decline, down by 5.0% to 72.9%. Roy Morgan’s "Customer Satisfaction-Consumer Banking in Australia September Report" is based on in-depth interviews conducted face-to-face with over 50,000 consumers per annum in their homes, including over 4,000 bank customers per month.
ROY MORGAN LIMITED, BENDIGO BANK, ING BANK (AUSTRALIA) LIMITED, BANK OF QUEENSLAND LIMITED – ASX BOQ, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ