The Commonwealth Bank of Australia
(ASX:CBA) is attempting to win back customers by getting rid of fees across mortgage and savings accounts, according to Fairfax Media.
The move follows intense criticism of the bank’s large out-of-cycle interest rate rises.
The CBA severely dented customer satisfaction with a larger than expected 45 basis point interest rate rise on Melbourne Cup day.
Data compiled by Roy Morgan research showed the CBA’s satisfaction ranking sunk to a five year low in November.
The Commonwealth Bank lifted its net profit to $5.7 billion in the 2010 fiscal year.
