Banks, Financial Services, Latvia, Society
International Internet Magazine. Baltic States news & analytics
Saturday, 20.04.2024, 01:25
Public distrust in Latvian commercial banks on the rise – survey
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Respondents in the poll, which was conducted in August 2018, were asked
if Latvian commercial banks could be trusted.
More than half of respondents, or 53%, disagreed with the opinion that
the Latvian commercial banks can be trusted. Compared to last year, the share
of such respondents has grown by eight percentage points.
The data of SKDS surveys shows that each crisis in the banking sector
causes public trust in the Latvian commercial banks to decrease. After the
collapse of Parex Bank in late 2018
the percentage of people distrusting commercial banks nearly doubled, from 33%
to 55%. After the shutdown of Latvijas
Krajbanka the number of respondents distrusting commercial banks rose by 10
percentage points over year to 58%.
Meanwhile, 37% of respondents in the latest SKDS survey said they still trusted
commercial banks, down percentage points from last year. One in ten respondents
could not give a definitive answer.
SKDS polled around 1,000 people in the survey.
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