Australian Broker forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Client satisfaction on the rise for big four - all but one, that is

Notify me of new replies via email
Australian Broker | 18 Dec 2012, 08:00 AM Agree 0
Home loan customers are less satisfied with major banks than other clients - and one of the major in particular has fallen behind the rest
  • Patrick | 18 Dec 2012, 09:50 AM Agree 0
    Why is anyone surprised. The AFR yesterday reported the fall in risk margins in corporate bond markets which has reduced big 4 funding costs by approximately 0.50%. This plus about another 0.50% increased spread between Official Cash and home loan rates is a total increased margin of 1%. If competition for deposits is the problem, then borrow more in whoelsale markets as these are now very attractive compared to during GFC. Gouge, gouge, gouge is all that big bank management understands.
  • Damien | 18 Dec 2012, 10:04 AM Agree 0
    Akin to 78% of people being satifised with their parents!
  • BONED | 18 Dec 2012, 11:20 AM Agree 0
    It is easier to achieve a 90% satisfaction rating when you have 1000's of Customers as opposed to 78% over several million wouldn't you say?
  • Wayne | 18 Dec 2012, 12:39 PM Agree 0
    Yes but a lot of those improvements in numbers have come as a direct result of "coaching" customers into giving higher scores. Westpac for instance have signs in their branches saying that a score from 1-7 means unsatisfactory service with 8-10 being satisfactory. You can't skew the mean without making the data inrrelevant. Lies, Dam Lies and Statistics.
  • TJ | 18 Dec 2012, 01:19 PM Agree 0
    They are paid by the big brothers so what do you expect?
  • Larz | 18 Dec 2012, 02:17 PM Agree 0
    Great comment Damien !!
  • Maryam | 12 Jan 2013, 05:54 PM Agree 0
    I think that their performance was never as good as they clemaid and were due to marks. And if you aren't marking to market, then how exactly are you marking things? And why should we trust any number you put up.I expect that Harvard and Yale are going to be announcing terrible results for awhile. They are all trapped in these terrible private equity funds.
Post a reply