Financial institutions around the world saw a break down in trust after the 2008 global economic crisis. In the United States and Europe, banks faced severe backlash both from public and governments. The situation was better in most of the Asian nations primarily because banks there were a lot more cautious in their dealings.
Let's take a look at how much trusts banks have in some of the major markets, including India.
Source: edelman.com
Click NEXT to see India's view of financial institutions...
India
Trust in banks: 74 per cent
Distrust in banks: 3 per cent
Overall rank: 1
Indians trust their banks more than any other nation mainly because unlike Europe and the United States the banks have not defaulted and nor have customers lost any money.
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Singapore
Trust in banks: 69 per cent
Distrust in banks: 9 per cent
Overall rank: 2
Singapore, one of the biggest financial institutions in the world, also has high trust in its country's financial institutions.
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Canada
Trust in banks: 64 per cent
Distrust in banks: 8 per cent
Overall rank: 3
Canada, one of the wealthiest nations, managed to survive the global economic turmoil without any major damage to its financial institutions.
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Malaysia
Trust in banks: 59 per cent
Distrust in banks: 9 per cent
Overall rank: 4
Malaysia, one of the economic powerhouses of Asia, also ranks high when it comes to trusting its financial institutions.
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Indonesia
Trust in banks: 56 per cent
Distrust in banks: 5 per cent
Overall rank: 5
Indonesia, one of the fastest growing economies in Asia, is struggling to manage its falling currency, but trust in banks remains high.
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United Arab Emirates
Trust in banks: 58 per cent
Distrust in banks: 17 per cent
Overall rank: 6
United Arab Emirates, one of the richest countries in the world, considers its banks safe and trustworthy.
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Hong Kong
Trust in banks: 43 per cent
Distrust in banks: 9 per cent
Overall rank: 7
Hong Kong, one of the largest financial institutions in the world, is home to some of the biggest banks in the globe.
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China
Trust in banks: 46 per cent
Distrust in banks: 18 per cent
Overall rank: 8
China, the fastest growing economy in the world, has some of the biggest banks in the globe.
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Turkey
Trust in banks: 44 per cent
Distrust in banks: 18 per cent
Overall rank: 9
Turkey, one of the fastest growing economies in the world, is a regional financial and economic powerhouse.
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Mexico
Trust in banks: 39 per cent
Distrust in banks: 16 per cent
Overall rank: 10
Mexico, the fifth-largest country in the Americas, is projected to become the fifth-biggest economy in the world by 2050.
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Argentina
Trust in banks: 38 per cent
Distrust in banks: 17 per cent
Overall rank: 11
Argentina, the eighth-largest country in the world,, has a "very high" rating on Human Development Index.
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Poland
Trust in banks: 39 per cent
Distrust in banks: 21 per cent
Overall rank: 12
Poland, which was one of the fastest-growing economies in the region until the 2008 global financial crisis, has seen some of the trust in its banks erode.
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Australia
Trust in banks: 38 per cent
Distrust in banks: 20 per cent
Overall rank: 13
Australia, which is one of the fastest growing economies in the world, is one of the richest countries in the globe.
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Sweden
Trust in banks: 31 per cent
Distrust in banks: 24 per cent
Overall rank: 14
Sweden, one of the richest countries in the world, is also one of the most competitive markets in the globe.
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Brazil
Trust in banks: 32 per cent
Distrust in banks: 35 per cent
Overall rank: 15
Brazil, one of the fastest-growing economies in the world, does not have that much faith in banks.
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Russia
Trust in banks: 18 per cent
Distrust in banks: 25 per cent
Overall rank: 16
Russia, which has some of the biggest oil and gas reserves in the world, distrusts its financial institutions more than it trusts them.
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United States
Trust in banks: 28 per cent
Distrust in banks: 32 per cent
Overall rank: 17
United States, the largest economy in the world, saw many of its banks collapse after the 2008 sub-prime lending crisis.
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France
Trust in banks: 18 per cent
Distrust in banks: 35 per cent
Overall rank: 18
France, one of the largest economies in the world, does not trust its banks that much.
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The Netherlands
Trust in banks: 13 per cent
Distrust in banks: 38 per cent
Overall rank: 19
The Netherlands, one of the wealthiest countries in the world, has seen some of the trust in financial institutions erode after the global economic crisis.
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South Korea
Trust in banks: 14 per cent
Distrust in banks: 30 per cent
Overall rank: 20
South Korea, one of the wealthiest countries in the world, is a major manufacturing and export powerhouse.
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Japan
Trust in banks: 11 per cent
Distrust in banks: 38 per cent
Overall rank: 21
Japan, one of the biggest economies in the world, was badly hit by the global economic crisis.
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