Loan re-pricing not hurting satisfaction scores

John Kavanagh
The banks' move to re-price their home loans in January to reflect higher funding costs does not appear to have cost them too many brownie points with customers.

The latest Roy Morgan Research customer satisfaction survey, released yesterday, shows a mixed bag of results with as many satisfaction scores rising as falling in January.

Among the banks ANZ and NAB were up, by three and six percentage points respectively. Commonwealth, Westpac and St George were down.

After getting close to overtaking NAB and getting off the bottom of the table in December, Commonwealth has lost a little ground.

St George, a perennial customer favourite, suffered the biggest fall - down 1.3 per cent in a month.

The bank has improved its customer satisfaction level over the longer term. It is up one per cent for the year to January but that rise is one of the smallest in the sample.