Consumer favourite TSB runs skinniest margin amid record bank profits

KPMG's John Kensington said bank profits ended the year at a record, despite slowing growth in the final quarter. (Image: KPMG)

Paul McBeth

Thu, 20 Apr 2023

Community-owned TSB Bank took out Consumer’s People’s Choice Award for an eighth year in a row as the minnow lender continues to operate on the skinniest margins among the major banks tracked by KPMG’s financial institutional performance survey. But skinny margins alone aren’t enough to win over respondents to Consumer’s banking satisfaction survey, with Westpac operating at a similar margin to TSB and coming last in the customer satisfaction survey for a second year in a row. The survey’s results c...

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