CBA knocks off Westpac in customer surveys
Reports yesterday that Commonwealth Bank had moved ahead of Westpac in the Roy Morgan retail customer satisfaction survey have been confirmed by similar findings in the latest Nielsen Financial Services Monitor.According to the Nielsen, among the big four banks ANZ ranks first with customers who say they are very or quite satisfied with their main financial institution.Commonwealth is in number two position, followed by Westpac and National Australia Bank.Commonwealth and NAB improved their ratings in the quarterly survey, conducted in December, while ANZ and Westpac lost support.NAB had a strong increase in "very satisfied" customers - up 4.3 percentage points.In the Roy Morgan survey, ANZ, Commonwealth and NAB all improved their ratings, while Westpac lost ground.Westpac appears to be paying the penalty for its 45 basis point increase in mortgage rates in December. Its new marketing campaign, focusing on its branch managers, has not made a positive impact.