Financial crisis 'did not improve banks'

Mon 8 Feb 2010 - Published in Banking

The majority of people do not think the financial crisis changed the UK's banks for the better, according to a new poll.

Research conducted by consumer watchdog Which? as part of its Big Banking Debate found that 81 per cent of people believe banks are no better than they were before the credit crunch.

The survey found that 96 per cent of consumers think banks operate more in their own interests than those of the saver, while 74 per cent think they should be broken up to create more competition in the market.

David Davis, member of parliament and chair of the Future of Banking Commission, commented: "The debate was fantastic. We heard responsible, well-argued, erudite points of view. I came here thinking I knew the main issues we had to tackle on the commission, I leave with a lot more to consider."

A recent poll by money.co.uk discovered that only seven per cent of Brits 'completely trust' their current bank, while just 15 per cent believe moving to another firm would make a real difference to the service they receive.

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