Banking on Popularity

Business folk aren’t quite as happy with their banks this year as they were last, according to the latest University of Auckland Business School survey of bank customer satisfaction.
Of the big five, ASB continues to lead popularity ratings with both business (81 percent) and the more fickle residential (76 percent) customers, although its satisfaction ratings have followed the general down trend. Average satisfaction ratings from business customers fell from 73 percent last year to 67 percent this year. Biggest loser was Westpac which fell 13 points to 58 percent.
The average rating from residential customers was not quite so harsh (a one point drop to 67 percent) with BNZ the biggest winner: it gained an impressive 14 percent rise. ANZ earned the lowest customer satisfaction from both its residential (52 percent) and business (57 percent) customers.
Unrest over National Bank ownership may have affected customer satisfaction which slipped eight percentage points in the residential market; more of its customers (18 percent) are also contemplating shift. More than quarter of ANZ’s residential customers are thinking about shift.
Of the smaller banks, TSB earns very high satisfaction rating and Kiwibank is gaining greater acceptance but Superbank is not yet getting much support.
The nationwide survey, carried out annually, canvassed 1150 business customers and 1175 residential customers.