Top ten firms with most complaints received by AFCA Australia FY 2024

In financial year 2024, the Commonwealth Bank of Australia received around ten thousand complaints made to the Australian Financial Complaints Authority (AFCA). The National Australia Bank received around 6,700 complaints. 

What are people complaining about?  

The vast majority of complaints received by the AFCA were concerning products in the banking and finance sector, accounting for nearly half of all complaints in 2024. The largest number of complaints in the banking and finance sector were regarding Deposit Taking/Payment Systems products. Around 21 percent of financial complaints received by the AFCA in the banking and finance sector were in relation to Consumer Loans.  

Net interest incomes of the banks 

A large source of income for banks is the interest they earn on interest-earning assets, such as consumer loans and mortgages. The net interest income of the Commonwealth Bank of Australia in financial year 2024 was around 23 billion Australian dollars, while the National Australia Bank net interest income in the same year was around 17 billion Australian dollars.