On Friday, HSBC said it would reduce the maximum amount directors can earn by 7%, prompting Triodos Bank to carry out research into the industry as a whole.
The study found that 51% of adults objected to the big bonus culture at the at the UK’s biggest five banks, with 48% wanting the sector to be more honest and to ‘show more integrity’.
Speaking about the results of the research, Huw Davies, head of personal banking at Triodos Bank, said: “This research suggests that there is still a large degree of customer dissatisfaction with the mainstream banking industry, and a desire for alternative banks to challenge the status quo.
“The fact that 39% of consumers said they want to see more ethical or sustainable banks in the UK shows that there is genuine appetite for a change.”
The survey also revealed that more than three quarters (77%) of the 2,000 participants think greater competition from ‘challenger’ banks should be encouraged.
Meanwhile, a quarter said it’s important that they know their money is not being lent to, or invested in, anything ‘ethically dubious’.
