Customer satisfaction with Australia's five largest banks held firm in the March quarter, despite the strains of the global credit crunch and two rises in official rates, an industry survey found.
The Panorama Financial Institution Customer Monitor, released today by The Nielsen Company, found little change in the satisfaction of customers with either their main financial institution or home loan provider.
The satisfaction level of main financial institution customers with the top-five banks averaged 61.9 per cent, down 0.7 percentage points from the previous quarter.
That result followed a two percentage point drop in the previous survey.
ANZ Banking Group Ltd and National Australia Bank Ltd managed to increase their levels of customer satisfaction.
St George Bank Ltd experienced the largest decrease in customer satisfaction among the top-five banks, allowing ANZ to regain its title as customer satisfaction leader.
ANZ claimed the top spot with 69.4 per cent of its customers satisfied, while Commonwealth Bank of Australia fared the worst - with 53.7 per cent of its customers satisfied.
The survey showed some evidence of a "flight to size", with a four per cent rise in the number of people claiming one of the major banks as their main financial institution.
That movement was led by Commonwealth Bank, which experienced an eight per cent jump in the number of customers claiming it as their main financial institution, offsetting a long-term downward trend.
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