Bendigo Bank customers are the most satisfied of all other major bank counterparts, thanks to positive home-loan and mortgage satisfaction, according to Roy Morgan research.
Findings from Roy Morgan’s Customer Satisfaction Consumer Banking in Australia report showed customer satisfaction with Bendigo sat at 89.3 per cent in August, and improved its rating over the month by 0.9 per cent points, against an overall decline of 0.2 per cent points for banks in total.
Bendigo Bank also had the highest home-loan customer satisfaction of the top ten major banks, with 96.3 per cent, ahead of the Bank of Queensland (93.6 per cent).
“The significance of looking at mortgage customers is due to the fact that they account for around three quarters of the total banking value or footings in the market, making satisfaction a key metric in growing and retaining customers in this segment,” said Roy Morgan industry communications director, Norman Morris.
“This research shows that it is important to not only measure overall satisfaction but to look at it by key customer segments.”
The average satisfaction rating for the ten major banks sat at 80.8 per cent in August, with Bendigo Bank ahead of ING Direct (86.7 per cent), Bank of Queensland (84.2 per cent) and Suncorp and St George at 83 per cent and 82 per cent respectively.
Of the big four banks, the Commonwealth Bank of Australia retained its lead in August with a customer satisfaction rating of 80.2 per cent, ahead of Westpac (78.5 per cent), National Australia Bank (78.4 per cent), and ANZ (77.3 per cent) which all came in under the 80.2 per cent average.
