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Click here to purchase a detailed Roy Morgan "New Zealand Banking Customer Satisfaction Report"

The June 2010 Roy Morgan New Zealand Banking Customer Satisfaction Survey reveals positive shifts in the overall satisfaction levels for most banks. TSB retains it’s position as having the highest satisfaction levels, despite recent declines.

In June 2010, satisfaction reported by customers of the five major banks increased year-on-year by 0.9% points to 77.6%. The biggest improver was the National Bank which rose 2.4% points followed by ASB (up 2.2 % points).  Amongst the five major banks, the highest satisfaction scores were achieved by ASB Bank (82.1%), followed by National Bank (81.6%), and BNZ (76.6%).

TSB and Kiwibank remain above the five major banks in terms of customer satisfaction, both improving their position over the previous year. Despite falls in recent months, TSB retained its position as the bank with the highest satisfaction level, at 89.4%, while Kiwibank had 85.5% satisfaction. Kiwibank’s satisfaction levels have grown in recent months, edging closer to TSB.

New Zealand Bank Customer Satisfaction

Source: Roy Morgan Research January 2008 — June 2010. Average 6 month sample= Approx. 6,000.

Satisfaction levels for main financial institution customers are also showing higher levels than previously. MFI satisfaction for the five major banks was 84%. This was up 1.6% points against June ’09 and up 3.1% against December ’09. Three banks that were driving these lifts were ANZ, ASB and National Bank. All three had year-on-year increases of around 2.5% points.

TSB had the highest level of MFI satisfaction at 93.2%, although this was down against recent quarters. Kiwibank had a 91.9% MFI score, which was up 1.0% points against the previous year and up 2.8% against the March period.

Mark Dansey Head of New Zealand Operations, Roy Morgan Research says:

“The June 2010 results show that positive sentiment towards the major banks is growing. While TSB and Kiwibank remain out front in terms of customer satisfaction levels, some of the major banks are showing strong growth. The ASB and National Bank in particular had strong performances in the past year. ASB have the highest satisfaction scores amongst the five major banks.

“The challenge for all major banks will be to continue this positive recent trend and to close the gap set by TSB and Kiwibank.”

For a detailed “New Zealand Banking Customer Satisfaction Report” — visit the Roy Morgan Online Store: http://www.roymorganonlinestore.com/Browse/New-Zealand/Finance.aspx

For comments or further detail, please contact:

Mark Dansey Head of New Zealand Operations

Email: Mark.Dansey@roymorgan.com

Telephone: +64 (09) 912 7032

Norman Morris, Industry Communications Director

Email: Norman.Morris@roymorgan.com

Telephone: +61 (03) 9224 5172

Available to purchase on the Roy Morgan Online Store:

Detailed measures of customer satisfaction for New Zealand’s 7 major banking institutions:

• Customer Satisfaction
• Main Financial Institution Satisfaction
• Long Term Trends (2002 — 2010)
• Recent Trends (2007 — 2010)
• Customer satisfaction by Quintile (Highest value to Lowest value customers)

About Roy Morgan

Roy Morgan is a full service research consultancy with over 65 years experience offering both qualitative and quantitative research. For each of the last 6 years Roy Morgan has completed 12,000 interviews annually with New Zealanders aged 14 years and older obtaining detailed demographic, psychographic and lifestyle information plus detailed behaviours, satisfaction scores and purchase intentions in categories including:

• Finance, Media, FMCG, Food, Beverages, Telecommunications, Technology, Internet, Retail, Travel, Apparel, Pharmaceuticals, Cosmetics, Utilities, Automotive.

In the area of Finance:

Roy Morgan collects data on all financial institutions — not only data on their main financial institutions. A consistent approach in terms of survey method and questions asked ensures the data can be compared over time periods effectively.

The Roy Morgan Single Source information presented in this release is a syndicated research survey with the data available to anyone or any organisation. The research is not exclusively owned by, and therefore ‘closed’ to an individual owner or a small group of owners. As such the data is a truly independent source of information in the New Zealand financial market.

Margin of Error

The following table gives indications of the likely range within which estimates would be 95% likely to fall, expressed as the number of percentage points above or below the actual estimate. Allowance for design effects (such as stratification and weighting) should be made as appropriate.

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