Barclays' chief executive Antony Jenkins has said that it may take a decade to win public trust after the bank's reputation was damaged following two scandals, media reported Tuesday.
Barclays was the first bank to be implicated in the Libor scandal, in which traders rigged the London inter-banking rate, leading to a 290 million pound fine in June 2012, and the bank was also involved in the PPI mis-selling scandal, The Independent reported.
"Trust is a very easy thing to lose, and a very hard thing to win back. In my view it will takes several years -- probably five to 10 -- to rebuild trust in Barclays," he was quoted as saying in a BBC Radio 4 programme, which he guest edited Tuesday.
Jenkins made the comments while addressing students at Brooke House Sixth Form College in Clapton, London.
Jenkins vowed to restore Barclay's reputation after he was appointed chief executive in August 2012, replacing Bob Diamond who was forced to step down. In February this year, he revealed a plan to overhaul the bank.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
