​CBA full-year results show strength in customer satisfaction

The bank’s 2016 full year figures show a profit rise and stronger customer satisfaction metrics

The Commonwealth Bank has highlighted stronger customer engagement and support along with innovation for delivering a 2 per cent increase in net profit for its full-year results for the financial year to 30 June 2016.

According to CBA’s CEO, Ian Narev, the bank has pursued a simple, consistent strategy for over a decade now and the results are showing through.

“Continued execution of that strategy, focused on customer satisfaction, innovation and strength, has again driven solid operating performance and balance sheet growth for the Group,” he said. “In the banking businesses, net interest income growth was supported by continued home and business lending and strong deposit growth, particularly in transaction banking.

“In other parts of the group, we also saw trading income growth and an increase in funds under administration. Sound cost management saw improvements in the Group’s cost-to-income ratio, and together with income growth, resulted in a 6 per cent increase in operating performance on the prior year”.

According to its results presentation, Commonwealth Bank ranked outright number one for retail customer satisfaction for each month during the financial year, and ranked first or equal first in all key segments of business customer satisfaction at year end.

“Customer satisfaction is the key metric we use to benchmark execution of group strategy, because satisfied customers look to us to meet more of their needs,” Narev said. “This year we have achieved our best ever customer satisfaction results, and this has again translated into increased customer activity.

“Our capacity to support our customers is directly related to the strength of our balance sheet. As a result of the capital raising and strong organic capital growth throughout the year, we have substantially boosted our capital position.”

From an internal perspective, Narev stressed the bank’s staff have showed continuing commitment and dedication to their customers and corporate values.

“This year, to support our focus on embedding a values-driven way of working across the Group, we are incorporating into everyone's performance review an assessment of how we have demonstrated our values and enhanced our risk culture,” he said.

Momentum on innovation initiatives was also maintained in 2016, with the emphasis on fast and simple digital transactions for retail customers. Examples include the CommBank app, which now includes ‘Instant Banking’, allowing new-to-bank customers to open an account and transact immediately, new online loan approval capabilities, and click-to-pay with ‘Photo a Bill’.

For business customers, the focus was on delivering business intelligence and integrated technology solutions, including through new partnerships with leading fintech providers. The bank also continued the successful roll-out of Albert EFTPOS tablets, with more than 40,000 now in the market.

Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+: google.com/+CmoAu

Join the CMO newsletter!

Error: Please check your email address.
Show Comments

Supporting Association

Blog Posts

Un-complicating multi-channel marketing: 5 actionable steps

There’s so much choice available that customers can pick and choose who they buy from and where, when, and how it happens. They want to discover, research, evaluate, and purchase on their preferred channel. Give them that option, and they’re more likely to choose you. That’s the whole point behind the multi-channel approach.

Aaron Agius

Co-founder and managing director, Louder Online

People in vegan houses shouldn't throw bacon

Picture this. You’re at a Gourmerican burger joint chomping a cheeseburger, when an outspoken vegan friend starts preaching that you’re killing the planet. Last week, that same vegan downed a pricey glass of pinot before their flight to a far-flung destination, armed with their strongest mossie repellant and first aid kit. Anything amiss?

Abbie Love

Strategist, Ikon Communications

The role of the CMO is evolving: Are you keeping up?

My (amazing) vacation in the Galapagos Islands earlier in the year got me thinking about Charles Darwin and his theory of evolution. What does this have to do with the role of today’s CMO, you ask? Plenty.

Sheryl Pattek

Vice-president, executive partner

It’s excellent aiming to resurrect the complete within the hearts and minds of connected customers, moreover because the terribly relevan...


CMO Interview: How Kodak’s global CMO is bringing the brand back from the brink

Read more

Great to see ActiveCampaign's growth funded with some serious money.As a platform, it's up there with the usual suspects in terms of feat...

Lawrence Ladomery

CMO's top 10 martech stories for the week - 13 October

Read more


Kerry Edwards

Open Colleges taps into social for better student interaction

Read more

Or just go to sites like www.shopsthatshiptoaustralia.c... and others and be sure that the stores will send to where you live :-)


Why online shopping is like dating – RedBalloon CEO

Read more

Personalisation is the key. Customers demand a very relatable and well defined CX where the sincerity and understanding of their disposit...

Hitesh Parekh

In pictures: Improving cutomer experiences through smart personalisation

Read more

Latest Podcast

More podcasts

Sign in