Nearly 20 years after the 2008 financial meltdown shook the world economy, public confidence in banks has climbed back — and in many places, it’s stronger than ever.
A new Gallup report finds that in 2025, a median of 63% of people across 25 countries hardest hit by the financial crisis said they have confidence in their banks. That marks a new high and a sharp turnaround from the years that followed the crash.
Before the crisis, confidence in banks in those countries stood at 57%. It plunged to 40% in 2009 after major financial institutions collapsed. By 2012, during the eurozone crisis, trust bottomed out at 37%.
From there, confidence slowly rebuilt. It reached 56% in 2020 and held steady until rising again last year to its current peak.
The countries in the report experienced the largest financial-sector losses between 2006 and 2009. Gallup defined that as steep drops in stock market capitalization as a share of GDP, along with economic contraction after the crisis.
In contrast, countries with smaller financial sectors and less exposure to the crash did not see the same collapse in trust. In much of the rest of the world, confidence in banks actually increased between 2008 and 2011. Now, for the first time since the crisis, trust levels in the hardest-hit countries match those in the rest of the world.
Before the crisis, banks ranked among the most trusted national institutions in these 25 countries. Only the military earned more confidence. That changed quickly in 2009, when banks fell near the bottom of the trust rankings, close to national governments.
Over the past decade, banks and governments tracked closely at the lower end of public trust. But as confidence in financial institutions improved, banks regained their standing. By 2025, they once again ranked among the more trusted institutions, alongside electoral systems.
Gallup says several factors may explain the rebound. After the crash, many countries adopted stricter regulations, higher capital requirements and stronger oversight of their financial systems. In countries such as Ireland, Greece and Portugal, reforms came with financial conditions tied to European Union assistance.
Still, the report suggests broader economic recovery may play a major role. Rising trust in banks closely matches improvements in how comfortable people feel living on their household income.
The recovery has not looked the same everywhere.
Eight countries — including the Czech Republic, Japan, the United Arab Emirates, Argentina, Croatia, Germany, Italy and Mexico — now report trust levels at least five percentage points higher than their precrisis peaks in 2006 or 2007.
Seven more countries sit within five points of their earlier highs, including Ireland, Austria, Hungary and Slovenia.
But nine countries still trail their precrisis levels by at least five points. Belgium, Spain, Greece and the United States fall into that group. Each posted 2025 confidence levels at least 14 points below their precrisis peaks.
Ireland stands out for its dramatic swing. The country recorded a 43-point drop in trust between 2008 and 2009 — the largest single-year decline Gallup has measured worldwide. Confidence fell to just 13% in 2011. It has since rebounded 51 points to 64%.
Gallup notes that trust in banks matters because confidence underpins the financial system. When people lose trust and withdraw their money, bank runs and wider panic can follow. When trust remains strong, people are more willing to save and invest, helping money move through the economy.
Data from the Gallup World Poll show a positive relationship between public confidence in financial institutions and GDP growth. The connection appears especially strong in low- and lower-middle-income countries.
Gallup says the key question now is whether banks can maintain these gains when the next global financial shock hits. That test will reveal whether trust rests on lasting reforms or on economic optimism and fading memories of the last crisis.
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