Consumer confidence in banks has further increased

Both consumers’ trust in the banking sector and trust in consumers’ own bank has increased in the first half of 2021. The number of consumers with high trust has increased, while the number of people with low confidence has decreased. These are the results from the Dutch Banking Confidence Monitor, conducted by the market research bureau Ipsos among almost 3,000 bank customers.

Nederlands

Compared to last year, confidence in the sector has increased from 3.0 to 3.1, on a scale of 1-5. Consumers’ confidence in their own bank increased from 3.3 to 3.4. Since the Dutch Banking Association (NVB) started measuring confidence in the banking sector in 2015, consumers’ confidence in banks has increased. Trust increased from 2.8 (2015) compared to 3.1 in 2021 for the sector as whole, and from 3.2 (2015) to 3.4 in 2021 for trust by consumers in their own bank. 

Trust in banks has increased since the start of the Corona crisis. In addition to the support measures taken by the Dutch government, banks have played an important role in ensuring continuation of credit flows and by offering deferred repayments. NVB chairwoman Medy van der Laan is “pleased to see the public’s recognition of our efforts in these difficult times which are very challenging for many – also for banks.”

As of July, the NVB has switched after five years from the Banking Confidence Monitor to reputation measurement according to the RepTrak-method, which is widely used in the business community. In addition to the measuring appreciation and trust, also leadership, citizenship, innovation and products and services of the sector are considered. The NVB will continue to report regularly on the results.