CBA takes a tumble in the customer satisfaction ratings
Commonwealth Bank has taken a hit to its business and consumer satisfaction ratings over the past few months, as it deals with a worsening financial planning scandal.Roy Morgan Research reported that CBA maintained the highest consumer satisfaction rating among the Big Four banks in July - but its rating has slipped while those of ANZ and Westpac have increased.And according to DBM Consultants' latest Business Financial Services Monitor, CBA has lost the top rating among business customers that it had held since the middle of last year.In both surveys the biggest improver in recent months has been Westpac, which is closing in on CBA's lead in consumer ratings and overtook CBA in business satisfaction in June.In the Roy Morgan Survey, Victoria Teachers Mutual Bank has the highest overall ratings, with a remarkable 98.1 per cent of customers saying they are satisfied with the service they receive. HSBC Bank Australia is at the bottom of the pack with a rating of 76.6 per cent.In the DBM survey, which only measures the big banks, Westpac is most popular with micro and small businesses, while CBA maintains its top rating among medium and large businesses.