Scotland can cash in on reputation for ethical banks

Published on Tuesday 27 May 2008 21:51

SCOTLAND'S reputation for high professional and ethical conduct in financial services should be marketed globally, according to the chief executive of the Chartered Institute of Bankers in Scotland.

Simon Thompson said yesterday that the global banking "liquidity crunch" presented Scotland with a unique opportunity to "export" its reputation for ethical business conduct.

Speaking ahead of a conference on ethics today, he said: "All banks realise that they simply must raise the customer experience by investing in higher standards of professionalism.

"Current events have added huge urgency to this."

Thompson added: "One of the big strengths of the Scottish financial services industry is our emphasis on prudence and professionalism. It's at the very heart of the Scottish brand as a home for financial services.

"This is a characteristic that Scotland now has a unique opportunity to export.

"We can say with conviction that we're better at teaching and promoting this in the banking industry than our colleagues in England and Wales, where our equivalent institutes in the banking and building society sectors no longer exist."