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Trust in banks after the financial crisis

Author

Listed:
  • Carbo-Valverde, Santiago

    (Bangor Business School)

Abstract

This article analyzes recent evidence and data suggesting that trust in banks has declined significantly after the financial crisis in several countries. Even if rebuilding trust is not an explicit public policy objective, it is worthwhile noting that trust represents a key ingredient of financial stability which, in turn, is an essential element of social and economic stability and development. The evidence shown in this article suggests that changes in the levels of trust are mostly in the hands of the banks themselves. In this sense, relying upon recent empirical evidence for Spain, we show that by changing specific attributes of the services that they provide, financial intermediaries can improve trust from their customers and even offset the negative effects of the financial crisis.

Suggested Citation

  • Carbo-Valverde, Santiago, 2014. "Trust in banks after the financial crisis," Journal of Financial Perspectives, EY Global FS Institute, vol. 2(2), pages 187-195.
    • Handle: RePEc:ris:jofipe:0045
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    Cited by:

    1. Claudia Gabriela Baicu & Iulia Monica Oehler-Șincai & Olimpia State, 2020. "Banks’ Perspective Regarding Reputational Risk in Romania," Global Economic Observer, "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences;Institute for World Economy of the Romanian Academy, vol. 8(1), pages 57-62, May.

    More about this item

    Keywords

    banks; trust; financial crisis;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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