Bank satisfaction remains at record highs

by AB25 Jun 2014
Personal customers are more satisfied with their banks than ever, but business customer satisfaction is still lagging behind.

Roy Morgan’s latest banking satisfaction survey has revealed that satisfaction among personal customers remained at a record high of 82% in May. The major banks have performed well over the six months to May, with CBA leading at 82% satisfaction, followed by NAB with 80.7%, Westpac at 79% and ANZ at 78.6%. Over the last 12 months, NAB and Westpac have shown the most improvement in customer satisfaction, up 2%.

While CBA saw customer satisfaction improve 1.7% over the year due to increased satisfaction among home loan customers, Westpac and NAB saw their gains among non-home loan customers. NAB’s home loan customers recorded a decline in satisfaction, down 2.8% over the last 12 months. All four of the majors have lower levels of satisfaction among mortgage customers compared to non-mortgage customers.

In spite of strong performance among personal banking customers, business customer satisfaction has fallen 0.2%. All four major banks lag significantly in business customer satisfaction compared to personal banking customers. Westpac leads the majors at 70.3%, followed by ANZ at 64.5%, CBA at 64.1% and NAB at 63.5%.