Satisfaction with banks declines further in October

Original article by Roy Morgan
Market Research Update – Page: Online : 26-Nov-18

New results from Roy Morgan shows that customer satisfaction with Australia’s banks fell to 78.0% in the six months to October 2018, compared with 78.5% in the six months to September. Satisfaction with banks was 81.2% in the six months to January 2018, prior to the Finance Royal Commission. The decline of 3.2% since January has resulted in the lowest satisfaction with banks in seven years, although it remains above the long-term average and is much higher than the 58.7% recorded in 2001. Satisfaction with the four major banks has fallen to 75.0%, down from 79.2% in the six months to January. However, satisfaction among customers of other banks has declined by only 1% over the same period, leaving them with an overall customer satisfaction rating of 83.9%. Roy Morgan’s "Customer Satisfaction-Consumer Banking in Australia October Report" is based on in-depth interviews conducted face-to-face with over 50,000 consumers per annum in their homes.


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