A YouGov poll has found that only 32% of respondents believe the UK banking sector is in a good state.
This survey comes in the wake of the recent collapses of Credit Suisse and Silicon Valley Bank (SVB), which have heightened concerns about the resilience of global banks. Despite these high-profile failures, YouGov’s findings indicate that public confidence in banks remains relatively stable.
Almost a quarter (24%) of the 2,000 people surveyed expressed doubts about their bank’s ability to withstand a crisis comparable to the 2008 financial meltdown. However, a significant 57% still feel confident that their bank could handle such an event.
Moreover, while 81% of respondents do not worry about the possibility of their own bank collapsing, 12% are concerned. Trust in the ability of banks to manage their financial affairs is also notable, with 68% expressing confidence, while 17% do not. Additionally, when asked about the safety of their deposits in UK banks, 83% believe their money is secure, and just 10% think otherwise.
Overall, it appears that those with concerns about the banking sector are in the minority. When asked about the general health of their banks, 76% of respondents rated them as competent, while only 7% disagreed.