More accountability, more diversity: Regulator's verdict on bank culture
The Behaviour and Culture Report, which covered AIB, Bank of Ireland, Permanent TSB, Ulster Bank and KBC Ireland, found that all five banks have 'a distance to travel' in order to develop a consumer-focused organisational culture
The report said consumer-focused cultures remained underdeveloped in the banks, and found “obstructive patterns of behaviour” which needed to be overcome.
The regulator wants each bank to submit a detail action plan to address issues identified in the report, which does not go into detail about the culture of individual banks.
The regulator’s review, which was ordered by Finance Minister Paschal Donohoe, focused on the banks’ executive leadership teams – “the key decision-makers...
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