The Banking Ombudsman's Report

16 October 2003

Key results published this week in the Banking Ombudsman's 2002/3 Annual report include:

  • a 13% reduction in complaints to the Ombudsman compared to 2001/2;
  • On average Banks and Financial Services organisations resolved 87% of complaints without an investigation; and
  • Median days to resolve a complaint are down to 66 days.

The good news for Commonwealth Bank customers is that the Bank resolved the most complaints without the need for an investigation and we resolved our complaints quicker (58 days) than our competitors.

The Bank is confident that initiatives implemented earlier this year by its Customer Relations team will continue these strong results.