Satisfaction of Australia’s banks improves amid COVID-19

Original article by Roy Morgan
Market Research Update – Page: Online : 22-Jul-20

New data from Roy Morgan shows that customer satisfaction with Australia’s banks was at 79.5% in May, up 0.2% points on April and up 1.1% points from May 2019. The biggest improvement in customer satisfaction over the last year was from Australia’s four major banks, with satisfaction up 1.4% points to 77.2% in May. Commonwealth Bank has the highest satisfaction of the four majors in May, closely followed by NAB, ANZ and Westpac. Mutual Banks continue to have the edge in customer satisfaction and are up 0.7% points from a year ago, to 89.2%. The leading Mutual Bank for satisfaction is Bank Australia, closely followed by Bank First and Beyond Bank. The foreign banks operating in Australia have a high customer satisfaction of 85.5% in May, but this is down 0.3% points from a year ago. Of the foreign banks ING is a clear leader for satisfaction ahead of HSBC and Citibank. These are some of the latest findings from Roy Morgan’s ‘Customer Satisfaction report on Consumer Banking in Australia’. This report is based on in-depth interviews conducted face-to-face with over 50,000 consumers per annum in their homes.

CORPORATES
ROY MORGAN LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, BANK AUSTRALIA, BANK FIRST, BEYOND BANK AUSTRALIA, ING BANK (AUSTRALIA) LIMITED, HSBC BANK AUSTRALIA LIMITED, CITIBANK PTY LTD

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