Of Special Interest
24th February 2012
Barclays banking complaints down - PPI UP
Barclays overall complaints are down 6% compared with the second half of 2010 and up 12% on the first half of 2011.
No surprise that the main factor in the changes relates to Payment Protection Insurance. In Q2 of 2011 the banks ended their legal challenges and agreed to settle the many complaints regarding the mis-selling of PPI. General Insurance and Pure Protection was up 67% on the first half and over 100% on the second half of 2010.
The good news is that pure banking complaints were down 31% on the year previous and 10% on the first half. Home finance is down 23% on first half and 12% on the year ago period, Life insurance & Pensions and investments are showing falls compared with the first half whilst up 34% and 77% on a year ago - from a very low base number.
Barclays are the first major retail bank to issue its second half figures. The bank should have ended the press release with the above figures alone which paint a good story. However someone at the bank felt the need to add one more statistic, namely that customer satisfaction had risen from 11th highest in 2007 to fourth highest last year. The ranking climb arose almost entirely from bank mergers. By using this statistic the bank only served to highlight that out of the five big UK retail banks they remain in fourth place for customer satisfaction - precisely where they stood in 2007.