IDEAS home Printed from https://ideas.repec.org/a/rfh/bbejor/v13y2024i1p696-702.html

Exploring Factors Influencing Trust in Banks: A Multifaceted Analysis

Author

Listed:
  • Tumani Sanneh

    (The University of the Gambia, Department of Economics and Finance, The Gambia, Minhaj University, School of Economics, Pakistan)

  • Ayesha Qamar

    (School of Economics, Minhaj University, Lahore, Pakistan)

  • Mafabi Muzamir

    (Department of Business Studies, Islamic University, Uganda)

Abstract

The intricate dynamics of trust formation within financial institutions, particularly in the banking sector, are explored in this research, combined with an exploration of the influence of attitudes and sociodemographic factors. Employing an ordered-logistic regression model on a different sample, we scrutinized the nexus between individuals' trust in banks and various factors such as age, educational attainment, technological proficiency, religious affiliations, marital status, income level, and family size. Our findings reveal several significant correlations: technological proficiency, age, and education all boost individuals' confidence in banks, whereas religious beliefs exhibit a negative relationship. Conversely, we have noted that the total number of children in a family, income level, and marital status exert adverse effects on trust in banking institutions. These discoveries underscore the complex interplay between personal attributes and attitudes in shaping perceptions of the trustworthiness of financial organizations. Policymakers and banking professionals must comprehend these dynamics to foster trust and stability within the banking sector.

Suggested Citation

  • Tumani Sanneh & Ayesha Qamar & Mafabi Muzamir, 2024. "Exploring Factors Influencing Trust in Banks: A Multifaceted Analysis," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 13(1), pages 696-702.
    • Handle: RePEc:rfh:bbejor:v:13:y:2024:i:1:p:696-702
    DOI: https://doi.org/10.61506/01.00257
    as

    Download full text from publisher

    File URL: https://bbejournal.com/BBE/article/view/728/708
    Download Restriction: no
    File URL: https://bbejournal.com/BBE/article/view/728
    Download Restriction: no
    File URL: https://libkey.io/https://doi.org/10.61506/01.00257?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Imtiaz Badshah & Frode Mellemvik & Konstantin Timoshenko, 2013. "Accounting from a Religious Perspective: A Case of the Central Government Accounting in Islamic Republic of Pakistan," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 3(2), pages 243-258, February.
    2. Imtiaz Badshah & Frode Mellemvik & Konstantin Timoshenko, 2013. "Accounting from a Religious Perspective: A Case of the Central Government Accounting in Islamic Republic of Pakistan," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 3(2), pages 243-258.
    3. Filipiak, Ute, 2016. "Trusting financial institutions: Out of reach, out of trust?," The Quarterly Review of Economics and Finance, Elsevier, vol. 59(C), pages 200-214.
    4. Audi, Marc & Poulin, Marc & Ali, Amjad, 2023. "Determinants of Human Wellbeing and its Prospect Under the Role of Financial Inclusion in South Asian Countries," MPRA Paper 120119, University Library of Munich, Germany.
    5. Ghulam Ghouse & Aribah Aslam & Muhammad Ishaq Bhatti, 2021. "Role of Islamic Banking during COVID-19 on Political and Financial Events: Application of Impulse Indicator Saturation," Sustainability, MDPI, vol. 13(21), pages 1-17, October.
    6. Aribah Aslam & Ghulam Ghouse, 2023. "Comparative Analysis of Trust in Financial Institutions Across four Provinces in Pakistan," Audit and Accounting Review, University of Management and Technology, Lahore, Pakistan, vol. 3(2), pages 27-45.
    7. Martin Jones & Robert Sugden, 2001. "Positive confirmation bias in the acquisition of information," Theory and Decision, Springer, vol. 50(1), pages 59-99, February.
    8. Baddeley, M.C., 2008. "Poverty, Armed Conflict and Financial Instability," Cambridge Working Papers in Economics 0857, Faculty of Economics, University of Cambridge.
    9. Nicolas, Christina & Tarazi, Amine & Ozturk Danisman, Gamze, 2023. "Disentangling the effect of Trust on Bank Lending," Journal of Economic Behavior & Organization, Elsevier, vol. 210(C), pages 360-378.
    10. Nasim Shah Shirazi & Sajid Amin Javed & Dawood Ashraf, 2018. "The Interlinkage between Social Exclusion and Financial Inclusion: Evidence from Pakistan," Policy Papers 2018-1, The Islamic Research and Teaching Institute (IRTI).
    11. Olson, Patricia D. & Zuiker, Virginia S. & Danes, Sharon M. & Stafford, Kathryn & Heck, Ramona K. Z. & Duncan, Karen A., 2003. "The impact of the family and the business on family business sustainability," Journal of Business Venturing, Elsevier, vol. 18(5), pages 639-666, September.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Muzamir M. Mafabi & Tumani Sanneh & Sadaf Sharjeel, 2024. "What Are the Implications of Government's Right to Collect Information on Public Trust in Banks?," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 13(2), pages 468-474.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Aribah Aslam & Uzair Mushtaq & Ghulam Ghouse & Rabeeya Raoof, 2025. "Corruption and Happiness: Fortune or Evil?," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 16(1), pages 5693-5713, March.
    2. Fahim Javed & Nargis Akhtar & Muhammad Fayyaz Sheikh & Muhammad Shahid Rasheed, 2023. "Social Anxiety, Self-efficacy and Academic Achievement in Matric Students of Lahore Pakistan," Journal of Policy Research (JPR), Research Foundation for Humanity (RFH), vol. 9(1), pages 28-37, March.
    3. Minza Mudassar & Prof. Dr. Asif Shamim & Muzamir M. Mafabi & Nasir Aziz kamboh, 2024. "Analyzing the Relationship between Macroeconomic Factors and Interpersonal Trust: A Multivariate Examination of Global Data," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 13(2), pages 475-480.
    4. Peterson, Preston & Distelberg, Brian J., 2011. "Differentiating value orientations and unity in values as predictors of varying family business system processes," Journal of Family Business Strategy, Elsevier, vol. 2(4), pages 207-219.
    5. Feng Zhang & Haina Zhang & Geoffrey G. Bell, 2021. "Corporate religiosity and individual decision on conducting entrepreneurial activity: The contingent effects of institutional environments in China," Asia Pacific Journal of Management, Springer, vol. 38(3), pages 955-978, September.
    6. Maura Pozzi & Carlo Pistoni & Silvio Carlo Ripamonti & Amalia De Leo, 2023. "Generation and Gender Differences in Family Businesses: A New Psychological Perspective," Journal of Family and Economic Issues, Springer, vol. 44(4), pages 919-934, December.
    7. DODERO ORTIZ DE ZEVALLOS Gino Felix & CLEMENTE-ALMENDROS José Antonio & BAHAMONDES ROSADO María Emilia, 2023. "The Covid-19 Crisis And The Financial Impact On Family Firms," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 18(2), pages 86-108, August.
    8. Aaqib Younas & Jawad Ahmed & Marc Audi, 2025. "Financial Inclusion or Financial Vulnerability? The Dual Effects of Digital Payment Platforms on Consumer Behaviour," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 14(3), pages 1-12.
    9. Joern H. Block & Marcus Wagner, 2014. "The Effect of Family Ownership on Different Dimensions of Corporate Social Responsibility: Evidence from Large US Firms," Business Strategy and the Environment, Wiley Blackwell, vol. 23(7), pages 475-492, November.
    10. Ali, Amjad & Butt, Mohammad Hamza & Senturk, Ismail, 2025. "Decentralised Finance as a Catalyst for Financial Inclusion: Evidence from Emerging Economies," MPRA Paper 128755, University Library of Munich, Germany.
    11. Ferreira, João J. & Fernandes, Cristina I. & Schiavone, Francesco & Mahto, Raj V., 2021. "Sustainability in family business – A bibliometric study and a research agenda," Technological Forecasting and Social Change, Elsevier, vol. 173(C).
    12. Pramodita Sharma & S. Manikutty, 2005. "Strategic Divestments in Family Firms: Role of Family Structure and Community Culture," Entrepreneurship Theory and Practice, , vol. 29(3), pages 293-311, May.
    13. Kyuho Jin & Joowon Lee & Sung Min Hong, 2021. "The Dark Side of Managing for the Long Run: Examining When Family Firms Create Value," Sustainability, MDPI, vol. 13(7), pages 1-20, March.
    14. Benjamin Enke & Uri Gneezy & Brian Hall & David Martin & Vadim Nelidov & Theo Offerman & Jeroen van de Ven, 2020. "Cognitive Biases: Mistakes or Missing Stakes?," CESifo Working Paper Series 8168, CESifo.
    15. Hiba Birgach & Taib Berrada El Azizi & Badr Habba, 2021. "Family Governance Mechanisms in Moroccan Family Businesses: An Exploratory Study," International Journal of Business and Management, Canadian Center of Science and Education, vol. 15(8), pages 101-101, July.
    16. Hsu, Po-Hsuan & Huang, Sterling & Massa, Massimo & Qian, Yaru & Zhang, Hong, 2025. "Exploratory innovation: A new perspective on family firms' under-diversification puzzle," Research Policy, Elsevier, vol. 54(10).
    17. Ubeda, Fernando & Mendez, Alvaro & Forcadell, Francisco Javier & López, Belén, 2024. "How socially sustainable multinational banks promote financial inclusion in developing countries," Research in International Business and Finance, Elsevier, vol. 71(C).
    18. Ivo Hristov & Antonio Chirico & Francesco Ranalli & Riccardo Camilli, 2022. "La pianificazione della sostenibilit? nelle aziende familiari: il ruolo dei key value drivers," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2022(3), pages 109-134.
    19. Salima Hafeez & Dr. Muhammad Waqas Raja & Tayyebah Sehar & Rashid Mehmood, 2023. "The Moderating Impact Of Gender Discrimination Between Women Entrepreneurial Orientation And Venture Performance," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 12(3), pages 94-113.
    20. Stefan A. Hajkowicz, 2012. "For the Greater Good? A Test for Strategic Bias in Group Environmental Decisions," Group Decision and Negotiation, Springer, vol. 21(3), pages 331-344, May.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rfh:bbejor:v:13:y:2024:i:1:p:696-702. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Dr. Muhammad Irfan Chani The email address of this maintainer does not seem to be valid anymore. Please ask Dr. Muhammad Irfan Chani to update the entry or send us the correct address (email available below). General contact details of provider: https://edirc.repec.org/data/rffhlpk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.