St George with 78.9% satisfaction, has shown the biggest improvement of the majors over the last 12 months (+ 5.3% points) placing it well ahead of the ANZ (+ 1.7% points to 75.8%). The improvement for St George was highest for their home loan customers (+ 7.1% points) but other customers also improved   (+ 4.8% points).

The NAB has moved up to third place amongst the big four for the first time since early 2008 and has been the biggest improver over the last 12 months amongst the big four ( + 4.7% points ). The rise was highest for non home loan customers (up 5.3% points) and there was a big improvement in how customers rated them on “fair fees and charges.”


Bank Customer Satisfaction


Source: Roy Morgan Research, January 1996 – May 2010. Average 6 months, n = 35,100.


Norman Morris, Industry Communication Director, Roy Morgan Research, says:

“In May 2010, Westpac had the lowest satisfaction overall with 70.8% which is the first time since Feb 2001 that it has scored the lowest rating of the majors. Over the last 12 months Westpac was the only major bank to show a decline in satisfaction.

“Westpac’s decline was due mainly to a big drop in the satisfaction among home loan customers and a low rating on having “fair fees and charges’.

“The adverse publicity received by Westpac over its home loan interest rate decision appears to be impacting heavily on customer satisfaction. By contrast, the NAB and its clear positioning of reducing fees is paying off in terms of customer satisfaction where it is now in third place amongst the big four and closing the gap to the ANZ and CBA.”

Click here to purhase the detailed Roy Morgan Banking Customer Satisfaction report.

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