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Bank customer satisfaction at record high

by Staff Reporter8 minute read
The Adviser

By: Staff reporter

Customer satisfaction towards the major banks has reached record levels, Roy Morgan data has found.

According to the recent Roy Morgan Research data report, customer satisfaction was sitting at 74.5 per cent in January – the highest level reached since 1996 when the survey started.

It was 1.1 per cent higher than for January 2009, which sat at 73.4 per cent.

According to the Australian Bankers’ Association chief executive David Bell, bank customer satisfaction data has shown a clear upward trend since late 2001.

For most of 2001, banks’ customer satisfaction levels dipped just below 60 per cent.

“I think these good results demonstrate that banks are responding to what their customers need and want. Even since the credit crunch which started in August 2007, consumers continue to have a choice of around 130 housing loan providers, and the prices they pay,” Mr Bell said.

“There’s also lot of competition for deposits as banks try to secure more of their funding from customer deposits versus securing funding from the wholesale markets.”

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