Customers like CBA, not NAB

Commonwealth Bank had the highest increase in satisfaction among the big five banks, according to Nielsen, with a 3.7 point increase over the quarter. Nielsen said Commonwealth did the best job of using improved satisfaction levels to win share, with 3.9 million consumers identifying the bank as their main financial institution compared to 3.7 million a year earlier – a 5.4 per cent increase.

National Australia Bank has little to show, so far, for its recent moves to position itself as a more consumer-friendly bank. It has linked up with Cuscal’s rediATM network to double its ATM coverage and it has been the most aggressive cutter of transaction and exception fees.

NAB is bottom of the ranking among the top five banks, in both surveys. Nielsen shows its score falling sharply in the June quarter and flat in the September quarter.

According to Roy Morgan, NAB’s score has improved in recent months but it has not closed the gap of around four percentage points to its nearest rival, which opened up towards the end of last year.

Source: The Sheet