It could take up to a decade for Barclays to regain customer trust after a series of scandals that have beset the bank, its chief executive has said.
Antony Jenkins, who took over the reins of Barclays in August in the wake of the Libor scandal and who was guest-editing BBC Radio 4's Today programme, said he was determined to change the culture at the bank towards long-term sustainability.
Mr 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 10 - to rebuild trust in Barclays."
Barclays was the first bank to admit traders manipulated interest lending rates and was slapped with a £290 million fine 18 months ago. It was also caught up in the PPI mis-selling scandal.
Mr Jenkins, hinted at a long-term strategy to overhaul the bank in September, pledging to restore Barclay's shattered reputation.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereComments are closed on this article