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Trust in banks has slightly increased in recent years

09 September 2019
Peter Verhoef

The trust that consumers have in the banking sector is slowly rising. But this trust has strongly suffered under negative news that the banks have caused by themselves. To continue repairing this trust, there must be no cause for negative news, for example, about extremely high salaries and bonuses granted to people working in the banking sector. These are the conclusions of Professor Peter Verhoef of the University of Groningen and Merle Baake, digital marketer at Adwise, which have been published in the journal ESB.

Smaller banks, such as Regiobank, Knab, Triodos and ASN, profit from negative news about one of the systemic banks, says Verhoef, who is also chair of the Advisory Board of the Banking Confidence Monitor. ‘These banks may possibly be seen as alternatives, and people might consider these smaller banks in a more positive light after hearing negative news about a systemic bank.’

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