Commonwealth Bank of Australia has taken out Money magazine’s prestigious Bank of the Year 2010 award.
The bank was highly commended in virtually every category and was singled out for offering attractive rates on savings accounts.
Nab came second, while Westpac rounded out the top three.
RAMS Home Loans was named best non-bank lender for the second year in a row with Homestar Finance and Collins Home Loans taking second and third spot respectively.
NAB scored the award for Credit Card Issuer of the Year, while Budget Direct was named Insurer of the Year.
“For the past six years the June issue of Money has played host to the Consumer Finance Awards,” says Money editor Effie Zahos.
“This year is no exception and we hope it serves as a timely reminder to all Money readers to ask themselves: where does my bank, building society or credit union rank?”
Bank of the Year: CBA
Credit Union of the Year: Community Alliance CU
Building Society of the Year: IMB Limited
Socially Responsible Bank: NAB
Insurer of the Year: Budget Direct
Home Lender of the Year: ANZ
Credit Card Issuer of the Year: NAB
Non-Bank Lender of the Year: RAMS Home Loans
Personal Lender of the Year: Holiday Coast Credit Union
Money Minder of the Year: CBA
Banking Website of the Year: St George/BankSA
Margin Lender of the Year: CommSec
Business Bank of the Year: Westpac