S-Bank topped the customer satisfaction rankings, being the only bank to improve its score compared to 2024. Photo: Timo Jaakonaho / Lehtikuva
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Customer satisfaction with banks in Finland has declined for the second year in a row, according to a new study by EPSI Rating. Among eight major banks, Danske Bank received the lowest ratings from customers, followed by Nordea and Aktia.
The annual Banking and Finance survey, published on Friday, shows that nearly all banks in the country were rated worse than the year before. Overall satisfaction among consumer customers dropped by 2.3 index points to 73.6.
Only one bank, S-Bank, managed to improve its score compared to 2024. It also topped the customer satisfaction rankings with an index score of 81.9, the highest among all banks surveyed.
Danske Bank, Nordea and Aktia all received scores below the sector average. OP Financial Group ranked fourth from the bottom, though its score came close to those of Savings Bank (Säästöpankki) and OmaSp, which performed moderately.
Pop Bank earned the second-highest satisfaction score.
The results were based on interviews conducted over the summer with more than 1,650 adult bank customers in Finland. Ratings took into account service experience, trust, digital access, and value for money.
Satisfaction levels among business customers also declined, with an average index of 70.9. Businesses reported lower satisfaction than private customers across all major banks.
Heidi Laitinen, country manager for EPSI Rating Finland, said in a statement that economic pressures may be contributing to lower satisfaction.
“Interest rates and inflation are placing stress on both consumers and businesses. This is now reflected in how banks are being rated,” Laitinen said.
Despite the decline, both consumer and business satisfaction levels remain above those recorded in 2020 and 2021, when average index scores were significantly below 70.
The report also raised concerns about fraud. Fourteen percent of both private and business customers said they had been targeted by fraud or attempted fraud while using their bank’s services.
The study emphasised that trust is a key part of the customer-bank relationship, and that attempted scams undermine confidence in financial institutions.
HT
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Source: www.helsinkitimes.fi
