In June 2010, satisfaction reported by customers of the five major banks increased year-on-year by 0.9% points to 77.6%. The biggest improver was the National Bank which rose 2.4% points followed by ASB (up 2.2 % points).  Amongst the five major banks, the highest satisfaction scores were achieved by ASB Bank (82.1%), followed by National Bank (81.6%), and BNZ (76.6%).

TSB and Kiwibank remain above the five major banks in terms of customer satisfaction, both improving their position over the previous year. Despite falls in recent months, TSB retained its position as the bank with the highest satisfaction level, at 89.4%, while Kiwibank had 85.5% satisfaction. Kiwibank’s satisfaction levels have grown in recent months, edging closer to TSB.


Bank Customer Satisfaction


Source: Roy Morgan Research January 2008 – June 2010. Average 6 month sample= Approx. 6,000.


Satisfaction levels for main financial institution customers are also showing higher levels than previously. MFI satisfaction for the five major banks was 84%. This was up 1.6% points against June ’09 and up 3.1% against December ’09. Three banks that were driving these lifts were ANZ, ASB and National Bank. All three had year-on-year increases of around 2.5% points.

TSB had the highest level of MFI satisfaction at 93.2%, although this was down against recent quarters. Kiwibank had a 91.9% MFI score, which was up 1.0% points against the previous year and up 2.8% against the March period.


Mark Dansey Head of New Zealand Operations, Roy Morgan Research says:

“The June 2010 results show that positive sentiment towards the major banks is growing. While TSB and Kiwibank remain out front in terms of customer satisfaction levels, some of the major banks are showing strong growth. The ASB and National Bank in particular had strong performances in the past year. ASB have the highest satisfaction scores amongst the five major banks.

“The challenge for all major banks will be to continue this positive recent trend and to close the gap set by TSB and Kiwibank.”

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