Wednesday 20 November 2019

Just 16% of Dutch consumers trust banks, new survey shows

Photo: European Central Bank

Photo: European Central Bank

Over a quarter of Dutch consumers mistrust banks, 16% trust them and 57% are neutral, according to a new survey by the Dutch banking association.

On average, banks score 2.8 on a scale of 1 to 5, where 5 represents ‘a lot of trust’, the VNG said on Monday. The figures are unchanged from last year.

Consumers with little trust in banks say financial institutions serve their own interests first. Concerns about executive pay and low interest rates are also reasons for consumers to mistrust banks, broadcaster NOS quoted the report as saying.

However, consumers are happier about banking services and the way they deal with complaints, the VNG said.

‘We had a lot of ground to make up and it takes time to build up trust again,’ said chairman Chris Bujink. ‘Consumers see improvements in services but remain sceptical about whether banks have actually changed. Banks must continually show they can be trusted.’

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