Bank responds to inaccurate media reports on its complaint handling performance
5 November 2003
The following letter has been sent to the editors of the Age and the SMH to correct inaccuracies in their report on the Bank's complaint handling performance.
Your report Banking on good practice (Money Manager 5/11/03) made significant factual errors in its claims that the Commonwealth Bank received most complaints (1390) referred back by the Ombudsman (BFSO) and that 80.6 per cent of these complaints were resolved without further BFSO intervention.
In fact, the Bank resolved 1390 complaints. Furthermore, 89.6 per cent of complaints referred to us by the Ombudsman were resolved without further intervention. Using the correct figures, the Commonwealth Bank was the leading major bank according to this measure.
For the record, compared to the majors, the Bank resolved the most complaints escalated to the BFSO without the need for an investigation and we resolved our complaints quicker than our competitors. We are confident that initiatives implemented earlier this year by our Customer Relations team will continue these strong results, and would appreciate you publishing this correction.
Group Corporate Relations