Tuesday, September 9, 2014

Banking Gets Its Name Back

The banking industry took a beating during the financial crisis of 2008-09, both in terms of dollars lost and in terms of its reputation. According to Gallup surveys, the public's view of the banking industry was at a net positive of 32 as late as the middle of 2007. But it dropped to -1 in 2008 and to -23 in 2009.

That reputation remained in negative territory through last year, but it has finally rebounded to positive 8 in Gallup's latest survey. That figure is still well below where the industry's reputation had been before the financial crisis, since Gallup started asking this question back in 2001.

The real estate industry has had a similar rebound. During the subprime crisis, the reputation of that business dropped to -40, even lower than the banking business ever got. But it too has bounced back to positive territory in Gallup's latest survey, for the first time since 2006.

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