Dutch banks should not be too pleased with themselves at passing the recent European round of stress tests, finance minister Jeroen Dijsselbloem told a banking congress on Tuesday.
‘The figures may be a pass, but a pass in this case is not enough,’ Dijsselbloem told members of the Dutch banking association, news agency ANP reports.
The banking sector is aware of the need for higher buffers, but Dijsselbloem asked his audience if there is sufficient attention for softer criteria, such trust, reputation and culture.
‘Banks have to understand how the outside world views them,’ he said. ‘And anyone who does not yet understand that, has no place in banking.’
In particular, Dijsselbloem said he would be paying close attention to how banks deal with the new ceilings on executive pay and on their relationship with small and medium-sized companies, who have complained about the difficulty of getting credit.
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