Recent figures have been released by the bank Barclays which have shown that the number of customers who are complaining against them has risen significantly in the first six months of the year. The bank had to display the information before the deadline at the end of August, and they certainly put it up just at the last minute.
Compared with the same period of 2011, the number of complaints made against the bankers risen by nearly 80 percent. Barclays are not the only bank that have been facing a backlash and the Royal Bank Of Scotland have seen an even more devastating figure, with nearly 130 percent more complaints being received.
Much of this is due to the mis-selling of Payment Protection Insurance which was a scandal many banks were involved in. The reason the banks publish these figures is because they are obliged to by regulators, and it is no surprise the Barclays took until the last minute to publish the figures, because they are probably not very happy about them.
The chief economics correspondent of the BBC is Hugh Pym and he has commented, “This figure just goes to show how banks on the high street are really struggling to rebuild positive relationships with their customers.
The scandals that have been occurring in recent years have damaged how customers feel about their banks, and this is something that is proving very difficult for the banks to repair.” If you take out of consideration the complaints that have been made because of PPI, then the figures are much less shocking, however there still have been increases in the number of complaints made against banks.