The banking industry conducts it’s own research into public perceptions of the banking industry. One of the areas researched is around public trust of the banking sector, and the dimensions of trust.
There should be very high levels of community trust toward the banking sector.
However the banking industry’s own research highlights the very low relative trust Australians have towards banks.
Less than one-third of respondents reported having ‘high trust’ in their banks.
This may be due to the high levels of systemic misconduct within the sector combined with the failure of regulators and government to act appropriately to hold banks to account for their dishonest conduct.
Source: Banking Reform Program Initial Benchmarking Report – Consumer Study, Edelman Research, 2017, p5.
You can read the full report here.