People’s overall confidence in banks has been shaken during times of economic uncertainty. However, the confidence index remains stable – despite ongoing debates about excessive profits and interest rate policy.
Erste Bank and Sparkasse rank first in the APA/OGM trust index with a trust balance of +34 points.
Bausparkasse Wüstenrot follows with +28 points and – like the Raiffeisenbank with +27 points – can hold its own, especially in the countryside. In contrast to last year, the Raiffeisenbank has lost five confidence points.
Banks such as Schellhammer Capital Bank or Deniz Bank, which focus on more specific population groups, find less trust.
New in the survey, which was conducted in October 2023 among 1,010 people aged 16 and older, is easybank, for which there is no comparable value with the previous year.
Loss of confidence for BAWAG
BAWAG continues to experience a loss of confidence and has a balance of -14 points. Influences such as high salaries and memories of previous scandals seem to have a negative effect on trust levels. Distrust at Hypobank remains high, which is apparently still an aftereffect of the Hypo-Alpe-Adria scandal in 2009.
Young people show more trust in digital banks such as N26, while older respondents are more likely to trust traditional banks. Just like last year, Bank 99 also remains in confidence with a balance of +2. UniCredit Bank Austria is listed in the survey with a balance of -1 and is increasingly less seen as a domestic bank.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
