04/02/2009 - 22:00

Stepping out into...

04/02/2009 - 22:00


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The Note raised an eyebrow at a bit of research floating about this week suggesting one in six BankWest customers could vote with their feet and leave the bank as a result of the recent takeover by Commonwealth. The Retail Banking Review poll, conducted by financial services research group CoreData, surveyed 842 consumers, including 453 who consider BankWest, the Commonwealth Bank, St George or Westpac to be their main financial institution. The survey found nearly a quarter of respondents - 23.3 per cent of BankWest customers and 24.1 per cent of St George customers - reported that the merger or takeover activity had negatively affected their level of satisfaction with the bank. Well voting with their feet might sound simple, but the Note has to question where exactly would those customers would walk as Aussie banking becomes increasingly centred on the big four.


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