Customer satisfaction with banks declines
The steady climb in business customer satisfaction with their banks has slowed over the last year despite remaining above the long-term average, according to the TNS Business Finance Monitor (BFM).
The BFM showed 73.4 per cent of business banking customers were satisfied with their main financial institution (MFI) over the past six months, despite all four big banks recording a decrease in satisfaction, down 2.8 per cent to 71 per cent.
ANZ saw the biggest decrease in satisfaction, dropping by 4.5 per cent, yet its levels remain the highest among the big four banks at 73.7 per cent.
Westpac was in second place, recording a 72.5 per cent satisfaction level, followed by the Commonwealth Bank on 70.6 per cent.
The National Australia Bank came in last at 67.8 per cent, with its satisfaction levels decreasing by 3.4 compared with six months ago.
Recommended for you
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
