NAB Crowned Most Distrusted Big-Four Bank

NAB Crowned Most Distrusted Big-Four Bank

The repercussions of the Hayne Royal Commission are definitely being felt by the big-four banks, and the latest Roy Morgan survey shows that NAB is faring the worst of all.

According to the Roy Morgan Net Trust Score Survey conducted February 9/10, shortly after the Hayne Report was handed down, NAB has attained the dubious distinction as the most distrusted bank brand in Australia.

The study, which has measured the banks’ Net Trust Score (NTS) since 2017, showed a predictable decline for all of the big-four banks, however NAB’s distrust score has managed to double year-on-year.

Though good customer service ranks as the number one factor of a brand’s trust, the data shows that greed, dishonesty and a lack of integrity are the major driving factors of distrust.

Prior to the Hayne Report, January’s survey revealed CBA as the bank brand with the lowest level of trust and highest level of distrust.

In January, 36.9 per cent of Australians distrusted NAB, a number which jumped to 53.7 per cent in February.

With NAB’s trust rating dropping from 18.5 per cent to 11.5 per cent, its Net Trust Score sits at a stunning -42.2 per cent, as compared to the other three major banks, which are sitting in the minus twenties.

Roy Morgan CEO Michele Levine describes NAB’s rating as being: “the highest level of distrust we have ever seen for a bank brand in Australia.

“The real question is what happens next”.

It falls on Clemenger Melbourne, NAB’s creative and digital agency, to stop the bleeding and rebuild the bank’s flagging public image.

NAB is the agency’s biggest client, and the upcoming campaign — alongside the campaigns for the other big-four banks — could turn out to be its most important yet.

B&T spoke with WE Buchan’s Michelle Ryan following the results of the Hayne Royal Commission about how the banks should respond, in both a commercial and ethical sense.

The full interview can be read here.


Please login with linkedin to comment

NAB royal commission

Latest News

How To Get Out Of A Cashflow Crisis
  • Opinion

How To Get Out Of A Cashflow Crisis

Paul Roach (pictured below) is a business strategist and coach who has worked with hundreds of SMEs across many industries to supercharge their cashflow. Roach is also author of the book Smarter Business Stronger Cashflow. In this guest post, Roach gives his top tips when the cash taps start to be turned off… Cashflow is like […]

Major Stars Including Kerri-Anne Kennerley & Tim Bailey To Go As 10 Announces Major Restructure
  • Media

Major Stars Including Kerri-Anne Kennerley & Tim Bailey To Go As 10 Announces Major Restructure

Network 10 is set to undergo a massive restructure, leaving a number of high-profile journalists out of a job, including Kerri-Anne Kennerley, Natarsha Belling and Tim Bailey, B&T understands. As first reported on The Sydney Morning Herald, the restructure was announced to staff on Tuesday. As part of the restructuring, the presentation of the weekday […]

by B&T Magazine

B&T Magazine
The Alcohol & Drug Foundation Team With Dee Madigan’s Campaign Edge To Tackle CV-19 Drinking
  • Campaigns

The Alcohol & Drug Foundation Team With Dee Madigan’s Campaign Edge To Tackle CV-19 Drinking

Alcohol & Drug Foundation (ADF) has launched a new national health campaign with Campaign Edge aiming to tackle COVID-19 drinking. Funded by the Australian Government, Break the Habit reveals that it takes only around 66 days to form a habit – roughly the same amount of time many Australians spent in lockdown. It’s a fact most Aussies are […]

One Daydream Expands Into Alcohol Category
  • Marketing

One Daydream Expands Into Alcohol Category

Sydney and Melbourne based PR, Talent & Digital agency One Daydream has extended its client portfolio to include alcohol. The category expansion comes as One Daydream joins the agency roster of Pernod Ricard, working on a project basis to manage strategic PR and digital campaigns. The global drinks group boasts one of the most comprehensive and prestigious […]

Modern interior with furniture and creative business sketch on wall. Success and solution concept. 3D Rendering
  • Media

Commtract Appoints New Business Development GM

Commtract today expanded its marketing, advertising and digital offering in response to a growing number of CEOs outsourcing to ‘gig-workers’ amid COVID-19. According to new research, 40 per cent of Australian CEOs are planning on outsourcing to freelancers in the contingent workforce. Commtract, which launched in 2016,  has more than 4,000 communications experts on its platform, and has already placed over 800 roles. […]