According to the national Customer Satisfaction Index of Singapore (CSISG) released on Tuesday by the Institute of Service Excellence at SMU (ISES), the overall customer satisfaction levels have hit a new high of 69.9 points in 2012, up from 69.1 in 2011. ISES noted that the main reason for the high overall index was the excellent performance of the financial and insurance industries. On the other hand, tourism, transport and logistics, and retail saw a drop in satisfaction levels. Consumer satisfaction levels for the F&B sector remained unchanged. ISES Institute Director Ms Caroline Lim described the results as "very encouraging". "The last couple of years have pitted Singapore businesses in a challenging operating climate of escalating costs and labour crunch," she said. Meanwhile, customer satisfaction levels for local banks have declined. Ms Lim was of the opinion that each bank, which has different customer needs, should customise their customer service strategies accordingly to achieve higher satisfaction and loyalty. She added that companies which had performed well are customer-oriented and have taken swift action when the situation calls for changes.