Customer satisfaction with banks in Finland has declined for the second consecutive year, according to the latest study by EPSI Rating. The survey, which evaluated eight major banks, shows a noticeable drop in overall satisfaction among consumers and businesses alike.
Among the banks surveyed, Danske Bank received the lowest ratings from customers, closely followed by Nordea and Aktia. The annual Banking and Finance survey, published on Friday, revealed that nearly all major banks scored lower than the previous year. Overall satisfaction among consumer customers fell by 2.3 index points to 73.6.
Only S-Bank managed to improve its score compared to 2024. The bank led the customer satisfaction rankings with an index score of 81.9, the highest among all banks surveyed. Pop Bank earned the second-highest satisfaction rating.
Banks such as OP Financial Group, Savings Bank (Säästöpankki), and OmaSp recorded moderate scores, with OP Financial Group ranking fourth from the bottom but remaining close to the average.
The study was based on interviews conducted over the summer with more than 1,650 adult banking customers in Finland. Ratings considered multiple factors including service experience, trust, digital access, and value for money.
Satisfaction among business customers also declined, with the average index dropping to 70.9. Across all major banks, businesses reported lower satisfaction than private customers.
Heidi Laitinen, country manager for EPSI Rating Finland, suggested that economic pressures may be a factor in the drop. “Interest rates and inflation are placing stress on both consumers and businesses. This is now reflected in how banks are being rated,” she said.
Despite the decline, customer satisfaction levels remain higher than those recorded in 2020 and 2021, when average index scores were significantly below 70.
The report also highlighted growing concerns about fraud. Fourteen percent of both private and business customers reported experiencing fraud or attempted fraud while using their bank’s services. The study stressed that trust is central to the customer-bank relationship, and that attempts at scams continue to undermine confidence in financial institutions.
