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Monday 5 December 2016

Banks top of 'least-trusted services' for second year

Christine Harper in Davos

Published 26/01/2012 | 05:00

LESS than half of the public trust financial services and banks to do what is right, making them the least-trusted industries for the second year in a row, according to an annual survey of public opinion across the world by public relations firm Edelman.

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Banks are trusted by 47pc of the public, down from 50pc a year ago, while the percentage who said financial services companies will do the right thing dropped to 45pc from 48pc, according to interviews in 20 countries late last year.

Technology companies topped the ranking with 79pc, -- down from 80pc last year.

Trust in government officials, regulators and chief executive officers as "credible spokespeople" dropped the most in the 12-year history of Edelman's Trust Barometer survey.

Chief executive trust plunged to 38pc from 50pc a year earlier, while the percentage that say they see government and regulators as credible dropped to 29pc from 43pc. Even though government leaders were less trusted than their counterparts in business in all of the countries surveyed except Singapore, 49pc of respondents said they wanted more government regulation of business.

The survey, conducted by research firm StrategyOne for Edelman, consisted of 20-minute online interviews focused on so-called members of the "informed public" -- college graduates whose household income is in the top quartile for their age in their country.

Edelman releases the Trust Barometer survey results annually at the start of the World Economic Forum's annual meeting in Davos, Switzerland.

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