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Antony Jenkins has admitted the bank had made "serious mistakes" in recent years |
Barclays
chief executive Antony Jenkins has said banks must become "socially
useful" if they are to rebuild trust.
"Banking
does have a lot to do to rebuild trust and integrity and I'd also say that it's
vital that that happens," he told the BBC.
Mr Jenkins
took over from Bob Diamond, who resigned in the wake of the Libor rate-fixing
scandal.
Mr Jenkins'
comments came has he launched a scheme to help small companies looking to
export.
"I do
believe that Barclays has a significant job to rebuild trust - but I'm also
confident that we can," Mr Jenkins said. "It goes back to what we do:
if we serve customers and clients in a way that is socially useful, then we
will rebuild that trust."
Mr Jenkins
has taken over at a difficult time for the banking group, which has seen its
reputation severely dented. In June, Barclays was fined £290m by UK and US
regulators for attempting to manipulate Libor, an interbank lending rate which
affects mortgages and loans.
The entire
financial services industry has come under scrutiny since the financial crisis
in 2008.
The
industry's reputation has been battered further by the mis-selling of payment
protection insurance, and the mis-selling of specialist insurance - called
interest rate swaps - to small businesses.
'Not naive'
"You
will see at Barclays we will make significant progress in the coming months at
Barclays and that will start to rebuild trust," he said. "You need a
vibrant banking system to have a vibrant economy. What's important is that
people judge us by our actions.
"I'm
on record as saying that the industry and to some extent Barclays did lose
sight of the customer and it's our job to put the customer back at the centre
of everything that we do.
"I'm
also not naive about how long that will take - it will take time," he
added.
Mr Jenkins
used to run Barclays Retail and Business Banking and has been a member of the
group's executive committee since 2009.
Barclays
research into its helping small-and-medium-sized businesses (SMEs) showed that
29% see a positive impact within six months of expanding into international
markets.
Barclays
has launched Business Abroad, which provides free access to advice, workshops
and tools, as well as discounts on international products and services.
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