You are here: Home - Saving & Banking - News -

Brits adopting ethical banking

0
Written by:
19/03/2008

Research from Mintel shows that millions of Brits are taking an ethical approach to their day-to-day banking.

In fact, 16% of Brits took a company’s environmental and ethical credentials into account when they were choosing where to bank. But the green financial movement doesn’t stop there, as no less than 31% of adults – or some 15.2 million of us – will consider a bank’s commitment to ethical causes, when next taking out a mortgage or opening a new account.

Todd Davis, senior finance analyst at Mintel, said: “Environmental and ethical issues are really starting to take hold of the banking world, with millions of people now seriously considering these causes before making financial decisions.

“Although this is not a new development, the last couple of years have undoubtedly seen this trend gather momentum, and financial organisations will now be able to gain real competitive advantage by taking a genuinely ethical approach to banking.”

But it is not all plain sailing for these financial instructions. There is still a lot of cynicism amongst the British population when it comes to the banking industries’ green credentials, as two thirds of Brits think that it is just a PR stunt when banks talk about just how ethical they are.

Davies added: “Financial institutions are clearly not sending out a convincing message.  They will need to rethink some of their strategies if they are to make the most of their decision to commit to a pro-environmental business stance.”
 

Related Posts

Tagged:

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
Rising costs hit elderly hardest

Alliance Trust’s independent study of age-related inflation has found that the inflation rates facing all five of its identified age...

Close