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Saturday, May 18, 2024

Norwegians unhappy with their banks

Never before have Norwegian banks ranked so low in terms of customer satisfaction. Ranking lowest are Norway’s three biggest banks: DNB, Nordea and Danske Bank, with the latter two set to merge.

Higher interest rates, along with the banks’ tendency to quickly raise rates on loans but not on savings accounts, aren’t the only things irritating customers as bank profits soar. They’re also frustrated over fees, the closures of bank branches and the banks’ poor customer service.

The latest annual survey of bank customer satisfaction, carried out by EPSI Norway, is based on interviews with 6,000 business and private customers. Customer satisfaction in the private market has fallen to just 67.7 out of 100 points, the lowest level since 2004.

On an individual basis, small Bulder Bank ranked highest, with 79.2 points, compared to 64.4 for Nordea, 61.5 for DNB and 57.7 for Danske Bank. A spokesperson for DNB said the bank wasn’t satisfied with the survey results and was “motivated” to do better. Consumer activists and several newspaper editorials, meanwhile, have been urging unhappy bank customers to simply switch banks.

NewsinEnglish.no staff

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