SEARCH
Satisfaction with Australia’s big four banks rose slightly in December, but high-potential-value customers were the least satisfied group, according to Roy Morgan.
The research house’s consumer banking satisfaction report for December found overall satisfaction with the country’s four largest banks edged up 0.4 per cent to 79.9 per cent throughout December.
Roy Morgan also found that the top quintile of customers (the twenty per cent of customers representing the largest total market value) were also the least satisfied.
“For each of the big four banks, their highest satisfaction levels are among their lowest-quintile customers (bottom 20 per cent), but as this group accounts for only 0.3 per cent of the total market value and banks already have a high share of wallet, around 70 per cent, they have very little growth potential,” the company said.
The potential for business growth in the top quintile of customers is “significant”, the company said, and the below-average satisfaction levels reported by these customers “highlights the need for increased attention if overall satisfaction levels and growth rates are to be improved”.
The Commonwealth Bank had the highest number of satisfied customers, with 81.9 per cent of customers reporting that they were “very or fairly satisfied”, followed by NAB with 79.4 per cent.
Westpac and ANZ had the lowest satisfaction levels with 77.7 per cent and 77.6 per cent respectively reporting they were “very or fairly satisfied”.
Read more:
CBA advice compensation reaches $23m
Nikko AM planning to launch active ETFs
Trump could ‘sow the seeds’ of next GFC
NAB introduces new fees reporting suite
ASX bullish on fintech stock listings
Pendal Group closed the September quarter with a $32.5 billion increase to its funds under management. ...
TWUSUPER has announced it will not proceed with the merger with EISS Super. ...
BlackRock recorded a considerable boost in assets under management to well above US$9 trillion in the third quarter. ...
Get notifications in real-time for staying up to date with content that matters to you.
Read More
