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The Good Bank
Report

The Good Bank

A Concept for Improving the Global Financial Industry

EIU, 2013 more...

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Editorial Rating

8

Qualities

  • Eye Opening
  • Background
  • Concrete Examples

Recommendation

To identify the essential characteristics of a “good bank,” the Economist Intelligence Unit (EIU) instigated an online debate among the world’s top financial mavens to elicit their viewpoints. This report – presented by EIU senior editor Dan Armstrong – reduces the definition of a good bank to three simple attributes: “effectiveness, trustworthiness and innovation.” getAbstract recommends this pertinent analysis to banking chiefs and policy makers responsible for evading future crises and rebuilding public trust in the banking system.

Take-Aways

  • Following the 2008 global financial crisis that almost decimated the entire banking system, the public lost faith in banks and the financial sector.
  • To determine how to recoup public confidence in the banking system, the Economist Intelligence Unit conducted a survey that identified the three characteristics of a “good bank”: “effectiveness, trustworthiness and innovation.”
  • An effective bank turns a profit and has a strong customer focus. It doesn’t take excessive risks in pursuit of unrealistically high returns. It reins in costs.

About the Author

Dan Armstrong is a senior editor at the Economist Intelligence Unit.