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25 May 2017

BNZ awarded People's Choice

Bank topped our KiwiSaver satisfaction survey.

BNZ has topped the latest Consumer NZ KiwiSaver customer satisfaction survey. It has been named as the Consumer NZ 2017 People’s Choice award winner for KiwiSaver providers.

68% of BNZ KiwiSaver Scheme customers were very satisfied with the bank as a provider. This compared with an industry average of 46%. A further 19% of BNZ KiwiSaver Scheme customers were somewhat satisfied.

Left to right: Derek Bonnar - General Manager – Business, Consumer NZ; Donna Nicolof - Head of Wealth & Private Bank, BNZ; Paul Carter - Director, Retail & Marketing, BNZ

People’s Choice winners are established through analysis of Consumer NZ surveys. The KiwiSaver survey was a nationally representative sample of 1085 New Zealanders aged 18 and over. A brand that is a standout performer for customer satisfaction is eligible to receive a People’s Choice award.

Consumer NZ CEO Sue Chetwin congratulated BNZ on a great performance and hoped the industry would follow its lead.

“We are delighted to see BNZ, a default provider, performing so well and we hope the industry in general can follow suit. The industry average of just 46% is disappointing.”

The Consumer NZ survey found 76% of KiwiSaver investors wanted to know where their money was being invested and 74% said they would be concerned if their money was invested in the weapons industry.

“We are pleased to note BNZ has developed a policy to ensure it doesn’t invest in companies involved in the manufacture of cluster munitions, anti-personnel mines, nuclear weapons and tobacco or tobacco products, as this is something that clearly concerns consumers,” Ms Chetwin said.

BNZ chief executive Anthony Healy says: “At BNZ, helping New Zealanders be good with money is in our DNA and the BNZ KiwiSaver Scheme demonstrates that. I am proud of all our teams — those who help everyday Kiwis via our call centres and retail store network, right through to those who partner with businesses to help their employees achieve their retirement and saving goals.”

Donna Nicolof, BNZ Head of Wealth and Private Bank, says: “KiwiSaver plays a vital role in the life of every New Zealander as it is a great example of how quickly even small amounts can add up over time. Everyone should be investing in KiwiSaver, whether it’s to get into your first home or to help secure a more comfortable retirement. Once you’re signed up, it’s important to take an interest in your KiwiSaver savings, which means choosing the right fund for you and increasing your contributions.”

Consumer NZ is an independent, not-for-profit organisation. Winners of Consumer NZ endorsements and awards can license use of the awards for marketing and promotions. All revenue raised from the endorsement programme goes back into the research Consumer NZ does on behalf of all Kiwis.

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