The Commonwealth Bank was named Major Bank of the Year last night at the annual Roy Morgan Customer Satisfaction Awards. Just as it did in 2013, the Commonwealth Bank blitzed its big four rivals throughout 2014 and won 11 of the year’s monthly satisfaction awards.

Michele Levine, CEO, Roy Morgan Research, said consumer and business banking satisfaction have increased steadily over the past year. "In this competitive environment, where consumers are quite willing to switch banks if they think they can do better elsewhere, banks are rising to the challenge of meeting their customers’ needs," said Levine. “Of course, the fact that interest rates are at a historic low certainly doesn’t hurt general banking satisfaction levels!"

Roy Morgan Research tracks customer satisfaction, engagement and loyalty across a wide range of industries and brands.