J.D.	
  Power	  Asia	  Pacific	  Reports:	  Retail	
  Banking	
  Satisfaction	  Remains	  Stable;	  Internet	  Financial	  Products	  Create	  Competition	
  for	  Retail	  Banking	  	  	  	  Bank	  of	  Communications	  Ranks	  Highest	  	
  Shanghai:	
  18	  July	  2014	  —	  Retail	  banking	
  customer	  satisfaction	  in	  2014	  remains	
  stable,	  while	  high	  customer	  awareness	
  and	  penetration	  of	  Internet	  financial	  products	  create	  competition	  for	  retail	  banking,	
  according	  to	  the	  J.D.	
  Power	  Asia	  Pacific	
  2014	  China	  Retail	
  Banking	
  Satisfaction	  StudySM	  (RBSS).	  	  Now	  in	  its	  sixth	  year,	  the	  study1	  measures	
  customer	  satisfaction	  with	
  their	  bank	  across	  six	  factors:	  transactions;	  product	  offerings;	
  account	  information;	  facility;	
  fees;	  and	  problem	  resolution.	  Additionally,	  the	  study	
  examines	  performance-­‐improvement	
  initiatives	
  designed	
  to	  drive	  customer	  loyalty	  and	  advocacy.	  	  Customer	  satisfaction	  in	  2014	  remains	  relatively	  stable,	  declining	  by	  only	  8	  points	  from	  2013	  (761	  vs.	  753,	  respectively,	
  on	  a	  1,000-­‐point	
  scale).	  Satisfaction	
  has	  also	  declined	  across	  all	  six	  factors,	  most	  notably	  in	  fees	  (-­‐18	  points)	  and	  product	  offerings	  (-­‐11).	  Mobile	  (834)	  is	  the	  only	  sub-­‐factor	  within	  transactions	  to	  improve,	  increasing	  by	
  7	  points	  due	  to	  an	  increase	  in	  usage	  among	  retail	  banking	  customers,	  despite	  being	  a	  relatively	  new	  method	  for	  conducting	  transactions.	  	  	  Internet	  finance,	  an	  emerging	  financial	  service	  separate	  from	  conventional	  banking	  service,	
  has	  garnered	
  wide	  attention	  in	  the	  market.	
  Among	  all	  existing	  Internet	
  financial	  products,2	  95	  percent	  of	  the	  customers	  state	  that	  they	  are	
  aware	
  of	  one	  or	  more	  Internet	  financial	  products.	  	  Internet	  financial	
  products	  have	  also	  achieved	  a	  high	  usage	  adoption	  rate	
  (61%)	  among	  retail	  banking	  customers	  in	  China.	  More	  than	  four	  in	  five	  (84%)	
  customers	  who	  have	  used	  these	  products	  indicate	  they	
  intend	  to	  continue	  using	
  the	
  same	  holdings	  or	  add	  more	  Internet	  financial	  products.	  	  	  Internet	  finance	  is	  beginning	  to	  influence	  the	  retail	  banking	
  customer	  experience,	
  especially	
  customers	  who	
  are	
  35-­‐49	  years	  old.	  This	
  age	
  group	  retains	
  the	
  highest	  income	  as	  well	  as	  the	  highest	  percentage	  enrolled	
  in	  VIP	  programs.	  Retail	
  banking	  satisfaction	  of	  these	
  customers	  who	  use	  Internet	  financial	
  products	  is	  lower	
  than	  among	  those	
  who	
  do	  not	  (754	  vs.	  769,	
  respectively).	  	  	  “Considering	  its	  convenience	
  and	  no	  limitation	  on	  purchasing,	  customers	  have	  tended	  to	  shift	  their	  savings	
  over	  to	  Internet	
  financial	  products,”	  said	  Steven	  Zou,	  director	  of	  the	  services	  industry	  at	  J.D.	  Power	  Asia	  Pacific,	  Beijing.	  “With	  more	  competitive	  choices	  for	  customers,	  banking	  has	
  to	  provide	  better	  personalized	
  customer	  experience	  and	  innovative	  products	  to	  differentiate	  and	  retain	  those	
  important	  customers.”	
  	  Retail	  Banking	
  Customer	
  Satisfaction	  Ranking	  •Bank	   of	   Communications	   (808)	   ranks	   highest	   and	   performs	   particularly	   well	   in	   the	   most	   impactful	  factor,	   transactions	   (48	   points	   above	   average),	   as	   well	
   as	   in	   facility	   (+38)	   and	
   account	
   information	  (+38).	  	  	  1The study was redesigned in 2014 to include only one award. In previous years, the study included two segments: shareholder banks and state-ownedbanks.
2Internet financial products are Internet wealth management products such as Yu’e Bao, Xianjin Bao and Baidu Finance.

(Page	  1	  of	  2)	  

••Shanghai	  Pudong	  Development	  Bank	  (802)	  ranks	  second	
  and	  performs	  well	  in	  problem	  resolution	
  (99	  points	   above	   average).	   China	   Everbright	   Bank	   (799)	   ranks	   third,	   performing	
   well	   in	   product	   offerings	  (+65	  points),	  followed	
  by	  Hua	  Xia	  Bank	  (798)	  with	  a	  strong	  performance	  in	  fees	
  (+133)	  and	  problem	  resolution	
  (+99).	  	  Customers	
   who	   are	   highly	   committed	   to	   their	   bank	   say	   they	
   “definitely	   would”	   reuse	   their	   bank’s	  service	   (72%)	   and	   recommend	   the	   service	
   (69%)	   to	   other	   potential	
   customers,	   compared	   to	  customers	  with	
  low	
  commitment	  who	  are	  less	  likely	  to	  reuse	  (11%)	  and	  recommend	  (12%).	  

	  
The	
  2014	  China	  Retail	
  Banking	  Satisfaction	  Study,	
  which	  examines	  15	  leading	  banks	  operating	  in	  China,	  is	  based	
  on	  responses	
  from	  9,120	  retail	  banking	  customers	  in	  30	  cities.	  The	
  study	  was	  fielded	
  between	  April	  and	  June	  2014.	
  	  Media	  Relations	  Contacts	  Michelle	  Meng;	  Beijing,	  China;	  +86	  01	  6569	  2702;	  yutian.meng@jdpa.com	
  John	  Tews;	  Troy,	
  Michigan	  USA;	  001	  248	  680	  6218;	  john.tews@jdpa.com	  	
  About	  J.D.	  Power	  Asia	  Pacific:	  www.jdpower.com	
  About	  J.D.	  Power	  and	
  Advertising/Promotional	  Rules	  www.jdpower.com/corporate	  About	  McGraw	  Hill	  Financial	  www.mhfi.com	  	  	  	  	  
	  #	  #	  #	  (Page	  2	  of	  2)NOTE:	
  One	  chart	  follows.	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	
  J.D. Power Asia Pacific2014 China Retail Banking Satisfaction StudySM (RBSS)Overall Customer Satisfaction Index Ranking(Based on a 1,000-point scale)700	
  750	  800	
  850	  808	  Bank	  of	  Communica5ons	  	  Shanghai	  Pudong	  Development	  Bank	  	  802	  China	  Everbright	  Bank	  	  799	  Hua	  Xia	  Bank	  798	  

China	  Minsheng	
  Bank	  798	  Ping	  An	  Bank	  792	  China	  Merchants	  Bank	  	  785	  Industrial	  Bank	  	  782	
  China	  CITIC	  Bank	  	  779	  

China	
  Guangfa	  Bank	  766	  753	  Industry	  Average	  Source: J.D. Power Asia Pacific 2014 China Retail Banking Satisfaction StudySM (RBSS).
Charts	  and	  graphs	  extracted	  from	  this	  press	  release	  must	  be	  accompanied	  by	  a	  statement	  identifying	  J.D.	
  Power	  Asia	  Pacific	
  as	
  the	
  publisher	  and	  the	  J.D.	
  Power	  Asia	  Pacific	
  2014	  China	  Retail	
  Banking	
  Satisfaction	
  StudySM	  (RBSS)	  as	  the	  source.	
  No	  advertising	  or	  other	  promotional	
  use	
  can	  be	  made	
  of	
  the	  information	  in	  this	  release	  without	
  the	  express	  prior	  written	  consent	  of	  J.D.	  Power	  Asia	  Pacific.