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SUNCORP Bank has beaten out the big four to be named Money magazine's Consumer Finance Bank of the Year.
The Brisbane-based financial institution is the first non-major bank to take out the title since the award was launched in 2004.
Suncorp Bank CEO John Nesbitt says the win was a testament to the team and he was proud to share the award with customers.
"Australia's banking landscape is a competitive market, so to be recognised as the industry leader reaffirms Suncorp Bank's position as the genuine alternative to the major banks," Nesbitt says.
"This award showcases the great things we are doing across our bank, especially the success of our diverse product portfolio which is designed to provide our customers with banking solutions for each stage of their life."
The winner is chosen based on the highest total score taken from six categories, including home lending, personal lending, transactional accounts, business banking, margin lending and credit cards.
Money magazine editor Effie Zahos says it was an easy decision to select Suncorp Bank, after the group excelled at each category.
"The Bank of the Year was awarded to the bank which performed well across a number of categories," Zahos says.
"We've been running these awards for 11 years, and what Suncorp Bank has pulled off has made history.
"Consistency, great features, good pricing is what Suncorp Bank delivers, and this is what got them over the line."
Consumer satisfaction ratings also played an important role in the winner's overall score, and Nesbitt says this was particularly pleasing for the business.
"Our genuine connection with our customers is what really sets us apart from the big banks," he says.
"This win recognises the high level of customer service displayed by our staff and broker partners across the country.
"We are investing in new digital capabilities and we will continue to raise the banking bar for the benefit of our customers."
Money magazine partners with Canstar to evaluate more than 15,000 financial products and services from over 140 financial institutions.Get our daily business news
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