3 out of 4 Hong Kong respondents say they trust banks

Across the world there are huge differences in perceptions of trust and respect for banks. To investigate how consumers’ attitude towards banks differs across the globe, YouGov, as the world’s leading online research firm, polled over 12,500 people in UK, US, UAE, Europe and Asia Pacific.

In Hong Kong, 3 out of 4 respondents say they trust banks. In terms of respect, over 60% of respondents say they respect banks. More than 70% of respondents agree that the banks they use are competent and know what they are doing. Over 40% of the respondents in Hong Kong also agree that banks are a force for good, and almost 40% agree that banks act in their customers’ best interests.

But how does it compared to the rest of the world? Perhaps unsurprisingly, the European countries surveyed are generally the least positive, while in Asia there is more variance.

People from Thailand have a mostly positive impression while, perhaps due to the persistently stagnant economy, people in Japan are less optimistic. Australia and the US have responses that are generally more in the middle of the road.

In the wake of the 2008 financial crisis, Americans seem to be largely more forgiving of financial institutions than Europeans, while Australians, less affected by the crisis on the whole, seem fairly neutral towards the industry.

Details of the survey can be found in the below infographic.

Data was collected from research amongst YouGov’s panelists and was weighted to be representative of online population. Sample size: Global (n = 12,507; UK: 2,084; France: 1,005; Germany: 2,062; Italy: 1,003; Japan: 1,006; Hong Kong: 1,084; Thailand: 1,004; UAE: 1,023; US: 1,192: Australia: 1,044)