Brokerage scandals have eroded general financial confidence in both brokerage firms and banks, and the importance of foreign-owned banks and foreign direct investment has risen in the eyes of the public, according to a survey released Tuesday by Good Finance Insurance Company.
Banks and brokerage firms were severely shaken
In a non-representative survey of 1,100 people surveyed between March 26 and 29, 42 percent of survey respondents said that “banks and brokerage firms were” severely shaken “. 20% of respondents are concerned about the possible bankruptcy of their bank or brokerage firm.
When asked if there was a decent brokerage firm in Hungary, 17 percent answered no and another 17 percent said they did not know. Almost a third of those surveyed believe that there is a decent brokerage firm, but they cannot distinguish it from dishonest ones.
Took their money from the brokerage firm to the bank
Although the uncertainty is widespread, only 8 percent of those surveyed have changed financial services. Most of the bills, 33 percent, took their money from the brokerage firm to the bank, while 17 percent took the money from the bank.
The first of the perceived risks associated with investments is the decline in the value of savings, which was mentioned by 54% of respondents. In addition, 40 percent are worried that savings returns will not reach inflation, and one in five respondents believes that the total loss from financial service fraud is a real threat.
The confidence in smaller banks is the lowest
Confidence in market participants has also been questioned, and the survey shows that most trust is currently held by large, foreign-owned banks, with over 50 percent of people trusting them and receiving a significant response rate to direct savings. placement abroad. While public financial service providers are lagging behind, the Treasury has significantly higher levels of trust. The confidence in smaller banks is the lowest.
According to Good Finance Insurance Company, the survey participants have a significantly higher-than-average education and financial background.