Image of Nordic banks not all glossy – survey
Nordea chairman Björn Wahlroos’s actions in defending the remuneration and bonuses of top executives in the bank may be one reason Nordea has ranked poorly among consumers when asked about the image of regional and domestic brands.
In contrast, Handelsbanken, another of the larger Nordic banks operating in multiple markets, has achieved higher customer satisfaction ratings. One reason cited for its rating in the Swedish market is the retention of cash-based services for consumers and a commitment to branches, in contrast to many of its competitors.
The findings are contained in the annual EPSI Rating European Banking Trends report, which interviewed 83,000 consumers across Europe.
Key failings that consumers see in the banks are their perceived irresponsibility and levels of customer service.
The level of satisfaction expressed by local banking customers varies considerably, from a score of less then 55 in the case of Spain, to close to 85/100 in Azerbaijan and Georgia. Spain’s level is the lowest ever recorded by the report.
A drop in the overall level of customer satisfaction saw Sweden fall behind Norway, while Denmark has also hit an all-time low, the survey results suggest.
In contrast, for those markets where EPSI has measured levels of customer satisfaction among business customers, there has been a notable improvement over the past year. It says that unusually for a number of markets b2b customers are actually more satisfied with the levels of service they are receiving than b2c customers. This is a rare ratio, the report said.
|Consumer satisfaction||EPSI score|
|Sweden satisfaction||EPSI score|
|Norway satisfaction||EPSI score|
|Sparebank 1 Gruppen||66.7|
|Finland satisfaction||EPSI score|
|Denmark satisfaction||EPSI score|