Denmark: Weak bank loyalty among the young and the rich

Article Abstract:

Loyalty among Danish bank clients has dropped, according to a survey by Danske Kundeindex. What is more, a recent Greens survey shows that it is the young and the well-to-do that are the least loyal to their banks. According to the survey, 11% of the interviewees wish to change banks. The percentage of those who wish to change banks is 16% among the 18-29-year-olds whereas only 8% were planning to switch to another bank among the 50+. 14% of Danes with a household income of between DKr350,000 (US$42,168) and DKr499,000 were willing to change banks and the corresponding figure among those with an income of more than DKr600,000 was 13%. Only 9% of those with the lowest household income had been contemplating changing banks. The main reason for wanting to change banks was the dissatisfaction regarding counseling and service - not prices.

Marketing procedures, Research Findings, Consumer Attitudes, Statistical Data Included

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Denmark: Plans to collect price information scrapped

Article Abstract:

The Danish Bankers' Association will give up its plans to collect price information on its Internet portal Finansnettet. The Association said two months ago that it would make it possible for consumers to make price comparisons between banks on its portal in order to bring about greater openness about prices and conditions in the sector. These plans have now been scrapped and the Association will only provide a link from its portal to banks' homepages.

Telegraph & other communications, Online information services

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