Survey: 58.8% Satisfied With Their Primary Bank

September 14, 2022

According to a recent survey released by Profiles of Bermuda on how residents were satisfied with their primary bank, 58.8% were satisfied, while 41.2% were dissatisfied.

A spokesperson said, “In a recent survey, residents were asked how satisfied they were with their primary bank. Nearly 6 in 10 [58.8%] were satisfied, while more than 4 in 10 [41.2%] were dissatisfied. Customers at HSBC were the most satisfied of the major banks [60.1%].

Figure 1: Satisfaction with Primary Bank

Satisfaction With Primary Bank Screenshot Bermuda September 14, 2022

“By demographics, those who classified themselves as being among “Other” races were most satisfied at 66.7%, as well as households earning less than $76,000 [63.4%], and those 34 years or younger [62.5%]. There was virtually no difference by gender – 58.8% of males and 58.5% of females were satisfied with their primary bank.

“Residents were also asked if they were aware of an entity that investigated complaints about banks. More than 8 in 10 residents [81.7%] were unaware of any organisation that they could turn to make complaints about banks. On the other hand, nearly 9 in 10 [88.0%] would be in favour of having an office that investigated banking complaints.”

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Category: All, Business