Barclays CEO says it could take a decade to rebuild trust

Antony Jenkins Barclays

Antony Jenkins, CEO of Barclays, has admitted it could take as long as a decade for the bank, which has been implicated in a number of banking scandals, to regain customer trust.

The Daily Telegraph reports that Barclays was the first bank to be implicated in the Libor scandal in which traders rigged a key interbank lending rate rate, facing a £290m fine 18 months ago. It is also one of the lenders involved in the PPI mis-selling scandal.

Speaking to open Tuesday morning's Today Progarmme, Jenkins said: '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 ten - to rebuilt trust in Barclays'.

Jenkins, formerly head of the retail banking arm of Barclays, became chief executive in August last year in the aftermath of the Libor scandal. When he was appointed he vowed to restore Barclays reputation. In February, he unveiled a plan to overhaul the bank's structure, including a decision to close operations it no longer considered 'compatible' with its business and ethics.

To access the complete Daily Telegraph article hit the link below:

Jenkins: it could take ten years to rebuild trust in Barclays

Barclays chief Antony Jenkins defends 'controversial' bank bonuses

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