Banks untrusted or at least trusted less: Should they get used to it?

February 22, 2010 at 10:27 pm (Public Relations) (, , , , , )

It seems like the recession pulled down bank reputation a big deal. Of course this is no surprise. Lots of people are in financial difficulty not to mention  the banks themselves.

But as far as reputation what can PR people do in this sector?

Well, in isolation efforts probably won’t succeed. PR need to be a part of a larger trust regaining plan. Banks changing practices, improving services and hoping that time will dim memories of the credit crunch in people fast.

Meanwhile PR is expected to focus on CSR to show banks do care about community, to improve relations.  This is the perfect time to do some corporate responsibility programs provided these gain visibility in the media and in reports.

I looked into Google to see what comes up. It seems only Deutsche Bank  has a very clearly visible (and perhaps a well search engine optimized) CSR program.

They focus on Education, Art and Social Investment.  Therefore it seems like a well rounded program. It offers something for everyone or at least many people.
These programs take place in the U.K..

I  think CSR won’t fix reputation by itself. It would be naive to assume that.  what the media are interested in is if banks rise or fall. Deutsche Bank according to this recent article seems to rise. This of course can also benefit public trust. It is more risky though. Bonuses  might outrage some people. Especially those who are in debt and feel mistreated by banks.

From a PR perspective this does seem to be the best plan. Emphasize good news, have CSR available and hope to be lucky not get any bad news connected to your name.

Will this work to gain public trust? Will different banks come up with different plans?
We will see…

For more info go to:

Deutsche Bank CSR

High street banks face trust crisis, Reputation Survey shows

Deutsche Bank staff to win 30% pay rises

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