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The Bond of Trust

The key to profitable retail banking

Author: Ian Lindsey

Publishing date: 12 May 2015

It is possible to run a retail bank both ethically and profitably: to put the interests of stakeholders before those of the board and executive committee and still make sufficient profits to invest in future expansion and to pay shareholders the dividends that they rightly expect as the owners of the bank.

For the last two decades several major high street banks have put the interests of their directors and senior executives ahead of those stakeholders.

The Bond of Trust: The Key to Profitable Retail Banking not only provides a comprehensive roadmap for managing a successful retail bank, it also sets out exactly why it is critical to look after the interests of each stakeholder in a fair and ethical manner.

The Bond of Trust sets out certain principles to which all banks must adhere if they are to build and retain the trust of their customers. It discusses the importance of treating customers fairly and ethically as well as ensuring that a bank's employees have a stake in the business and can rightly be called the bank's greatest asset.

Addressing themes such as meeting customers' needs, operational excellence, cost efficiency, leadership, change management and staff and customer loyalty, The Bond of Trust offers guidance and inspiration for retail bankers around the world to embrace the consumer banking business and to always do what is right for the customer.

Banking was once an honourable profession, but for the last two decades it has been badly managed and regulated. This report reflects upon the author's 50 years' experience as a retail banker to demonstrate why looking after the needs of each stakeholder in a fair and ethical manner need not be a hindrance to profitability.


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