Survey shows half of Moldovans do not trust banks

Chisinau, 11 December /MOLDPRES/- A survey research carried out by a consultancy company from Moldova, shows that only 16 per cent of the Moldovan population trust banks and more than 50 per cent say they would entrust their savings to the financial system. Those who want to save money say banks are not safe for this purpose.

“Men and women are equally skeptic about the safety of the banks. However, city residents tend to be less skeptic about it, compared to people living in villages,” the experts of Magenta Consulting company say. The older the respondents are, the smaller the confidence rate is. Part of this category are “people with a monthly salary under 5,000 lei, business owners and retired people”.

According to the survey, only 18 per cent of the interviewed business people say they trust the banking system, and only six per cent of them have full confidence in it. Most of them, 40 per cent, have a neutral attitude towards banks, and other 40 per cent do not trust them at all. An amount of 23 per cent of the interviewed managers is absolutely categorical and skeptical about Moldova’s banking system.

According to Magenta Consulting, a negative attitude towards the banking system is preponderantly shared by companies from Moldova’s northern and central regions, men, people who use a patent, own homesteads or administer a micro-enterprise, and also by directors, managers and more rarely by accountants.

Most of the managers voicing confidence in banks, come from Moldova’s southern region, including women and people who administer financial activities and own businesses in the health and social assistance sectors.

The survey was conducted in two stages. The first stage (20 August- 5 October 2015) of the survey included a sample of 351 companies, with a margin of error of 6.2 per cent for a confidence level of 95 per cent. The second stage of the survey (20 October-31 October 2015) was conducted on a sample of 832 respondents, with a margin of error of 3.4 per cent for a confidence level of 95 per cent.

(Reporter V. Bercu, Editor L. Alcaza)