Whilst National Bank and TSB Bank were the strongest performers over the last 12 months, gains in satisfaction were also seen with ASB Bank (up 3.3% points) and with both BNZ and Westpac up 2.4% points.

The ANZ was the only major bank to fall back over the last 12 months (-1.0% points) and it now has the lowest satisfaction rating of all the banks.

The satisfaction with banks in New Zealand overall improved by 2.0% points over the last 12 months (to 76.6%) but these gains appear to have stalled over the last quarter with a gain of only 0.1% points.


NZ Bank Customer Satisfaction


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


Although the ASB Bank (81.2% satisfaction) is now behind the National Bank (83.3%), it is in fact the leader in the top end of the market (top 20% of customers by value) amongst the major banks. The gains made by the National Bank over the last 12 months have been at the lower value end of the market (i.e. bottom 40%).


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

”The September results reveal relatively stable levels of satisfaction overall in the last 6 months but there have been pleasing lifts in satisfaction levels year-on-year. The National Bank and ASB Bank in particular have been standout performers amongst the major banks in terms of customer satisfaction but TSB Bank was the top performer overall. With the New Zealand economy still struggling to lift itself out of the mid 2008 recession the potential for bank growth will be limited. This makes it even more critical to retain and grow customers through a strong focus on customers and improve their level of satisfaction.”

These are the main findings of the Roy Morgan New Zealand Banking Customer Satisfaction Survey in which approximately 12,000 New Zealanders per annum are asked the following questions about their Main Financial Institution as well as other financial institutions that they may have dealings with: “Overall, how satisfied are you with your relationship with ….” (Five point scale answer ranging from ‘Very Satisfied’ to ‘Very Dissatisfied’).

Click here to purchase a a detailed “New Zealand Banking Customer Satisfaction Report."


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