Westpac laggard taught mutual lessons
A tiering of industry disadvantage can be seen in Australian banking when the monthly Roy Morgan satisfaction series is stripped down. In last place, 3240 basis points behind a faraway leader, Roy Morgan ranks Westpac with just 28.5 per cent of customers defining themselves as "very satisfied."CBA leads among the major banks on 32.9 per cent, with NAB nipping its heels at 31.4 per cent. ANZ follows on 30.7 per cent, not far in arrears of the big bank average of 31.3 per cent. Among mutuals with total satisfaction ratings of in excess of 90 per cent, "very satisfied" customers are the primary cohort.At Teachers Mutual 92.7 per cent of customers say they are satisfied and, of these, 60.9 per cent are "very satisfied." This is two-thirds of all TMB's customers.At major banks the "very satisfied" cohort is less than half of the total satisfied customers.