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Bendigo Bank is 'most recommended'

30 July 2014 |Media centre

Bendigo Bank has been named Australia's most recommended by its customers participating in the latest Roy Morgan research.

Almost two-thirds of the Bank's customers (63.2 per cent) said they would recommend Bendigo Bank to friends and colleagues. The results indicate the Bank's customers are 'High Advocates' - that is they rated Bendigo Bank an 8, 9 or 10 out of 10.

Bendigo and Adelaide Bank Managing Director Mike Hirst thanked the Bank's customers. He added the results were a fantastic vote of confidence in the organisation's more than 7,000 employees who work to make it Australia's most customer-connected bank.

"We have a people-first strategy and work to ensure our Bank is creating successful customers and communities. If we do this, we believe our own success will follow and this is evidence of that," Mr Hirst said.

Bendigo Bank's result is well ahead of its closest competitor, according to the Roy Morgan Research Finance Single Source survey which focused on the six months from January to June 2014.

Roy Morgan found customers who consider their bank as their Main Financial Institution (MFI) are even more likely to recommend them, and this was evident across all banks listed.

A total of 64.2 per cent of Bendigo Bank's MFI customers are High Advocates, a difference of 1.0 percentage points when compared with overall customers.

Mr Hirst said the Bank's high customer satisfaction was a driver of its leading advocacy results.

"Bendigo Bank has recorded high levels of customer satisfaction over a long period of time. It's something we focus on and continue to strive for, but we understand we can't rest on our laurels," he said.

"In recent years we've made some major investments in new innovations to help make banking with us easier. In conjunction with our customers we've developed a new-look website with improved functionality, and extended our offering via social media platforms.

"This year we've launched mobile payment solutions like redy and Bendigo microPay, and this week we claimed an Australian technology first - a financial transaction enacted by a wearable device.

"We also have plans to relaunch our mobile online banking and account opening services soon," he said.

Mr Hirst added the Bank also continues to invest in its significant branch and ATM network.

"With more than 600 customer service outlets Australia-wide, we have Australia's fifth largest branch network.

"In addition to this, our Community Bank® network continues to grow and has now returned more than $122 million to support local community-building initiatives," said Mr Hirst.

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