Follow the Smart Money: High Net Worth Clients Rate Commerce Bank, ING Bank and National City Bank Best in Customer Experience in Luxury Institute Survey

Business Wire, May 1, 2006

NEW YORK -- According to the new Luxury Customer Experience Index survey (LCEI) from the New York-based Luxury Institute, Commerce Bank overwhelmingly earned top honors as the consumer bank that delivers "the best customer experience" as rated and ranked by their own high net worth customers. ING Bank and National City Bank placed second and third, respectively.

High Net Worth customers rated sixteen of the nation's largest consumer banks based on their direct individual experiences. These included: Bank of America, Bank of New York, Chase (incl. Bank One), Citibank, Citizens Bank, Commerce Bank, Fifth Third Bank, HSBC Bank, ING Bank, National City Bank, PNC Bank, Suntrust Bank, US Bank, Wachovia, Washington Mutual, and Wells Fargo.

"Commerce Bank is propelled to its leadership position by dominating the other brands in terms of providing the absolute best banking experience to its customers with an overall score of 76 vs. its nearest competitor, ING, at 71," said Milton Pedraza, CEO of the Luxury Institute. "Commerce is rated best at meeting the core banking needs of its customers effectively. But that is merely a cost of entry. What truly differentiates this brand is the attitude and behavior of its employees, its brand environment, and its responsiveness to problems. For Commerce, its ratings result in being rated highest in outcome metrics such as being worthy of a significant price premium, customer retention, and customer referrals. There are several bank surveys out there, but none focus on what best customers rate the institutions. It's about time bankers listened to their best customers too since these are the 20% that deliver 120% of the profits."

As the trusted and respected Voice of America's Wealthy, the Luxury Institute is the pioneer in developing objective and independent customer-centric performance metrics for the luxury goods and services industry. The new Luxury Customer Experience Index survey (LCEI) complements the Luxury Institute's reputation survey (Luxury Brand Status Index survey-LBSI). For the Consumer banks LCEI the Luxury Institute surveyed a nationally representative valid and reliable statistical sample of more than 2,000 households with a median income of $296K in gross annual income and median net worth of $1.8 million (including home equity).

About the Luxury Institute

The Luxury Institute is the uniquely independent and objective research institution that is the trusted voice of the high net worth consumer. The Institute provides a portfolio of proprietary quantitative research that guides and educates high net-worth individuals, and the companies that cater to them, on leading edge trends, wealthy consumer ratings and rankings of luxury brands, and best practices. To reach the Luxury Institute, please call 646-792-2669 or go to www.luxuryinstitute.com.