Synovate announces Canadian Financial Service Excellence Awards for 2007



    TD takes top honours in most areas while RBC scores a breakthrough

    TORONTO, Aug. 27 /CNW Telbec/ - Global market research company Synovate
announced the latest results from its annual Customer Service Index (CSI)
survey for customer service excellence among the Top 5 Banks in Canada. The
CSI survey is now in its 20th year of providing the financial sector with an
essential pulse on how their customers rate them as well as specific metrics
for improving service.
    This year's survey, conducted among a regionally and demographically
representative sample of 17,500 Canadians from July through mid-August 2007,
shows that the Top 5 Banks in Canada continue to improve their performance in
meeting their customers' expectations, with an average 28% improvement in
Overall Quality of Customer Service compared with 2002.
    Even more significantly, there is a striking correlation between this
year's Financial Service Award leaders and their respective organic revenue
growth rates for their domestic retail and small business operations. As Rob
Myers, Managing Director of Synovate in Canada notes, "We found that the
results from the 20th anniversary Customer Service Index as well as prior
years surveys are highly correlated with the respective institutions' organic
revenue growth rates, demonstrating that meeting and exceeding customers'
expectations has a direct impact on their financial performance."

    Financial Service Excellence Awards 2007 for the Top 5 Banks:

    
    -------------------------------------------------------------------------
    Award Category:                                     Awarded To:
    -------------------------------------------------------------------------
    Overall Quality of Customer Service                 TD Canada Trust
    -------------------------------------------------------------------------
    Value for Money of Products and Services Received   RBC
    -------------------------------------------------------------------------
    Would Recommend to Family and Friends               TD Canada Trust
    -------------------------------------------------------------------------
    Values "My" (the customer's) Business               Bank Of Nova Scotia
    -------------------------------------------------------------------------
    Staff Service at "My" (the customer's) Branch       RBC
    -------------------------------------------------------------------------
    Branch Access and Convenience                       TD Canada Trust
    -------------------------------------------------------------------------
    Information Handling and Communications             TD Canada Trust
    -------------------------------------------------------------------------
    Financial Products and Services                     TD Canada Trust
    -------------------------------------------------------------------------
    Interest Rates and Service Charges                  CIBC
    -------------------------------------------------------------------------
    Automated Banking Machines in general               TD Canada Trust
    -------------------------------------------------------------------------
    Online Banking in general                           TD Canada Trust
    -------------------------------------------------------------------------

    - 2007 marks the third year in a row that TD has achieved the highest
      rating among the Top 5 Banks for Excellence in Overall Quality of
      Customer Service. This year, RBC scored second highest while Bank of
      Nova Scotia placed third.
    - RBC scored a breakthrough by taking two awards, having not seen any top
      placements last year.
    - CIBC came on strong by achieving the highest score for Interest Rates
      and Service Charges, whereas the bank did not rate on top for any
      category in 2006.

    Changes in service excellence ratings among the Top 5 Banks:

    - Two banks have dominated the battle for the Award in Excellence on
      Overall Quality of Customer Service among the Top 5 Banks, with TD and
      BNS each achieving three lead positions during the last six years. BNS
      took the lead placement in Overall Quality among the Top 5 Banks for
      three successive years - 2002 through 2004. In 2005, TD overtook BNS to
      place first for Overall Quality, a position it has maintained through
      to this year's Awards.
    - BNS has taken the lead among the Top 5 Banks on Overall Quality more
      times than any of the other Top 5 Banks throughout the 20 year history
      of the Synovate Customer Service Index, and had the honour of holding
      that position when the survey was first launched in 1987.
    - Since 2003 RBC has continued to improve their performance in the Value
      for Money category receiving top honour in 2007, demonstrating that its
      customers have become increasingly satisfied with the bank's products
      and services.
    

    Myers further commented: "We have seen great efforts by the banking
industry to improve the service that customers receive in-branch and when
using ATM's, online banking and savings or chequing accounts. The trends over
time in the Customer Service Index clearly show that this effort is resonating
with their customers and evidently has a direct bearing on the banks' overall
financial performance."

    About Synovate

    Synovate, the market research arm of Aegis Group plc, generates consumer
insights that drive competitive marketing solutions. The network provides
clients with cohesive global support and a comprehensive suite of research
solutions. Synovate employs over 5,700 staff in 118 cities across
52 countries.

    For more information on Synovate visit www.synovate.com.




For further information:

For further information: Henrietta Sung, 1-416-964-6262 ext. 165,
Mobile: 1-647-998-6999, henrietta.sung@synovate.com

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