Waning confidence in banks

The crisis in Swedbank and revelations of questionable tax planning by Nordea has cost the banks dearly in terms of falling confidence.

A fresh “confidence in the banks barometer” shows that the confidence index for Nordea has slipped from 52 out of 100 at the start of the year to 32 this month, and the confidence index for Swedbank has fallen from 53 to 41.

“Confidence in the banks from the general public is initially very low. This applies in particular to dimensions such as ethics, societal responsibility and transparency,” says Tony Apéria, a research fellow at Stockholm University’s Business School, behind the barometer.