Let's face it, none of really like our banks. There is not much joy in banking for most Australians, we use them because we have to. However, some banks do realise that customer satisfaction is important, like Westpac for example who were the only major Australian bank to improve customer satisfaction in the June quarter.
Westpac Banking Corporation improved customer satisfaction level among home loan borrowers while also increasing it's share in the market.
Nielsen Company carries out market research, and a quarterly survey of banks' customer sentiment and this report found Westpac was the only major bank to actually increase home loan customer satisfaction. From April to June 91.5 per cent of Westpac's mortgage borrowers were "very or quite satisfied", three per cent higher than the previous quarter, Neilsen said.
All other major banks fared poorly, with falls in customer satisfaction falling. Although interest rates have been left unchanged by most banks for several months now, it seems home owners are still not completely satisfied with their bank or the service they receive.
Commonwealth Bank is still the nations biggest bank while competition from smaller banks dwindles. The major players in the mortgage market remain CBA, ANZ, Westpac and National Australia Bank, with subsidaries St George.
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