14 Jun 2010

Bank sales targets under fire in survey

12:37 pm on 14 June 2010

The bank workers' union wants an investigation into the sales practices of banks after their sales targets and techniques came under fire in an online survey of employees.

In the trans-Tasman survey conducted by Finsec and the Finance Sector Union in Australia, 45% of bank employees who responded thought selling debt to customers has become a higher priority.

Some 77% of bank employees questioned thought their employer did not reduce sales targets when economic conditions became more difficult.

Finsec's campaigns director Andrew Campbell is calling for an immediate investigation.

The online survey was completed by 585 bank workers. The survey had a margin of error of plus or minus 2% to 4%.