Savers want banks to be more ethical

Most savers believe banks should be more socially responsible and make efforts to raise their ethical standards, according to research.

Just one in ten savers feels their bank has high ethical standards and three-quarters feel banks should do more to help society, a survey by ethical bank Triodos found. It revealed that just 15 per cent of savers say helping society is not the role of the banks, while one in five think the industry should support arts and culture.

Two-thirds of savers want banks to invest more in community and social groups and a similar proportion claim banks should do more to support renewable energy initiatives.