Banks Still Losing in Trust

Professional ServicesBanks ♦ Published: April 28, 2014; 17:39 ♦ (Vindobona)

The trust in banks is continuing to decline. The scepticism towards the financial branch has increased among 39 percent of Austrians while trust in banks only increased among five percent.

Banks are still losing in trust due to the financial crisis. / Picture: ©

According to a current survey of auditing and consultancy company Ernst & Young (EY), the Austrians are still cautious with regard to financial institutes.

In 2013, Western European banks have lost almost 40 percent in trust by their bank clients due to the years of financial crisis while only nine percent said they have gained in trust. On a global basis, the scepticism is…