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Tuesday 17.01.2017 | Name days: Tenis, Dravis
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Banking sector’s reputation in Latvia – above average in Europe

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUBanking sector’s corporate reputation value in Latvia has stabilized in the last two years. It has now reached an above average value in Europe. This is proven by results of a recent survey carried out by TNS and Latvian Association of Commercial Banks.

After the rapid rise of the banking sector’s reputation in Latvia in post-crisis years, when banks managed to nearly double their reputation value from 28 points in 2009 to 44 points in 2013, overall reputation indexes have stabilized. In 2015, corporate reputation value of Latvia’s banking sector reached 45 points in TRI*M index.

«Results of the survey show that Latvia’s society is positive about the place of banks and their role in social processes. In order to improve society’s and business representatives’ views in regards to banks, the latter should look for balance between customer needs and their own business interests,» – says Intars Aboms, senior customer manager at TNS.

TNS survey was carried out to study four aspects – business environment, residents, media representatives and opinion leaders. Most residents and representatives of the business environment give banking products a good score. Residents especially value the quality of customer service in the sector – considerate, quick and professional service provision and positive feedback from other customers.

«Business philosophy has been changing in around the world lately – business is no longer merely about making money. Business new carries a multitude of social responsibilities. Much is expected of banks – service quality, information transparency, data security and communication with state institutions. We try doing just that – reputation is not just loud slogans, pretty advertisements. Reputation is everyday work, modern and convenient services, transparency and high standards,» – said LKA President Martins Bicevskis.

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