11 countries where people trust banks

By the degree of citizens' confidence, the UK banks took 89 place, and the banks in the United States took 49 position. These figures are lower than in Honduras, Peru and Namibia. These interesting results of the survey devoted to the confidence degree in the banking system in different countries have been made public in the Autumn of 2015 at the World Economic Forum. The survey involved 102 countries.

In the UK and the US, people do not trust banks after the financial crisis in 2008. However, here are 11 countries where people today fully trust the banks. The country with the most sound banking system is at the bottom of the list.

The Czech banking sector is represented mainly by foreign creditors, and this is its unique feature. Nevertheless, the Czechs trust their banking system. This is connected to the fact that Czech citizens trust their government.

The Swiss banking system is still among the top ten leaders, but the country has gone down in the ranking. In 2015, the Swiss National Bank lost US $51 billion because it had failed monetary policy. Switzerland is losing its position of a country with a centuries-old banking tradition.

As in the Czech Republic, the Slovak banking market is formed mainly by foreign creditors. The largest players in the market are Italian and Australian banks, which have a high confidence rate.

In Israel, the last major financial crisis was in 1983. Since then, the state remains the largest shareholder of the majority of private banks in the country.

The only state bank of Luxembourg is included in the top 10 safest banks in the world according to the statistics of the World Bank. For foreign banks, Luxembourg is a reliable offshore zone. Citizens of Luxembourg also trust the banks of their country.

Chile's banking sector is an excellent example of how a crisis can bring benefit. In 1982, Chile's economic growth decreased by 13% after a large-scale financial crisis. In the 80-90s, the government conducted a series of reforms that revived the banking system, making it one of the most reliable in the world.

In Norway, the government strictly regulates the activities of the banks, especially the foreign ones. The last financial crisis in Norway was in 1991. Norwegians have complete trust in their banks and they are among the happiest people in the world – Norway takes the 4th place in the rate of the happiest countries.

In the banking sector of Finland, co-operative and savings banks are in the lead as they are less exposed to risks. Chairman of the Central Bank of Finland proposes to regulate the work of foreign banks, giving some of them the right to lend to people while providing others with the opportunity to accept funds on deposit accounts.

The banking system of the country is based on the four largest national banks. Foreign banks and their activities are strictly regulated by the state.

The financial sector of the country is dominated by five national banks. The work of foreign banks is strictly regulated by the state.

Canadian banking system is one of the youngest and the most stable in the world. Even during the Great Depression in the 1930s, Canadian banks suffered minimal losses.

According to a survey conducted by the Guarantee Fund for deposits of physical persons with the support of the USAID-funded development program in 2015, Ukrainians do not trust the banks. One third of the population keeps its savings in cash. This low level of trust of Ukrainians for the banking system is driven by the poverty of the population and the financial crisis. At the same time, young people (18 to 29 years old) trust the banks of their country more than the older generation.