Global Trustworthiness in the banking sector

Some could say that the COVID-19 pandemic provided an opportunity for the banking sector to claw back some goodwill from a tumultuous 13-year period (the collapse of the Lehman Brothers in 2008, mis-sold PPI affecting UK consumers, the Libor scandal of 2021, allegations of money laundering through the leaked Panama Paradise, or Pandora Papers) – by providing support to consumers and businesses in what was (and still is), the biggest global crisis in the post-war era. Ipsos asks, – have the past eighteen months changed perceptions of the trustworthiness of the banking sector?

With almost three in ten (28%) of the public thinking that the banking sector is trustworthy vs two in ten in 2018 (20%), this places the sector as the third most trustworthy industry (behind technology and pharmaceuticals) amongst the nine sectors Ipsos asked about in our latest report.

What’s more, the sector has seen the biggest global increase since 2018 in trustworthiness amongst this set (+8 points). When we look across regional shifts, growing trust towards the sector is seen consistently across the globe. 

Mike Granleese, Managing Director and Financial Services lead in our Corporate Reputation team, talks about trustworthiness in banking sector and outlines the areas in which the sector has made progress in recent years – starting with a global snapshot of trust in the banking industry in relation to other industry sectors measured in our Global Trustworthiness monitor, as well as looking at the different attributes that form the drivers of trust.

Click above to watch the video and here for the full article in our Global Trustworthiness Monitor report.