For the last six months, Mazars has taken part in a global conversation led by The Economist Group which brought together experts to ask the critical question: “What does it take to be a Good Bank?”
The Good Bank report, published by The Economist Intelligence Unit and Mazars brings together the results of a live webcast debate, online discussion and research featuring the contributions of senior banking executives and financial services experts.
The discussions revolved around what are seen to be the pillars of a Good Bank:
Trustworthiness: how can banks regain the trust of a still sceptical public?
Innovation: a majority (52%) of those polled during the live, webcast debate believes that the most valuable innovations in banking are coming from outside the banks themselves.
Effectiveness: can banks provide the credit that economies require to grow and satisfy the needs of shareholders, regulators, depositors and the wider public interest?
“Banks are faced with the need to attract top flight talent in an environment where there is pressure, legal or otherwise, to cap executive pay, as well as the obligation to provide lending and liquidity to the marketplace, while faced with these regulatory pressures. They need to do all this while simultaneously enhancing shareholder value. This balancing act has to be maintained in equilibrium while banks work to rebuild clients’ trust.” Steve Brecher, Partner at Weisermazars