CONSUMER trust in the UK banking sector has stabilised after years of decline, but it lags the level of confidence seen elsewhere in the world.

A survey by accountancy giant Ernst & Young found that, although 85% of UK consumers trusted banks to some degree, only 26% had complete trust.

Some 15% said they had minimal or no trust in their bank, which E&Y said was double the level of mistrust found in the US, Germany, France and Switzerland, and in line with Spanish and Russian banks.

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