The Irish Banking Culture Board (“IBCB”) was established in April 2019, and is an independent industry initiative, fully funded by the five retail banks operating in Ireland (Allied Irish Banks, Bank of Ireland, KBC Bank Ireland, Permanent TSB & Ulster Bank) with the aim of rebuilding trust in the sector through demonstrating a change in behaviour and overall culture.
The IBCB requires our participating banks improve culture, customer outcomes and competence.
Rooted in the knowledge that a changed culture will change outcomes, we promote ethical behaviour and advocate for humanity, decency and respect in the banking sector.
We are only at the very early stages of this journey. We recognise that the restoration of trust in an industry which has been the subject of so many challenges and issues will not be easy but, we are confident that, over time, we can contribute to positively changing bank culture to the benefit of the two cohorts most impacted by this culture – bank customers and bank staff.
Following the appointment of our CEO, Marion Kelly, in March 2020 we will be developing a three-year Strategic Vision over the coming months, building on the key priorities in our year one Work Programme (2019-20). Once finalised, this will be available on our website.
Following the publication of a national public and stakeholder consultation report, and a banking staff survey, both undertaken to inform the IBCB’s establishment, the Board has now been appointed and its work is underway.
The IBCB is an independent industry initiative established and funded by the five retail banks in Ireland with the aim of rebuilding trust in the sector through demonstrating a change in behaviour and overall culture. The IBCB’s goal is to act as a transformative influence on culture within the banking sector.
The role of the IBCB is to be an independent voice advocating for cultural change in the Irish banking industry. The IBCB will demand that participating banks improve culture, customer outcomes and competence. Rooted in the knowledge that a changed culture will change outcomes, the IBCB promotes ethical behaviour and advocates for humility, decency and respect in the banking sector.
The IBCB will not act as a lobbying or representative organisation. It will not act as a regulatory body nor duplicate the work of individual banks, the BPFI or the regulator.
As an industry initiative, the formation of the IBCB is a strong signal of intent from within the sector of its desire to foster a sustainable banking culture that adheres to the highest levels of professionalism. Only change that comes from within and is informed by the perspectives of the public can be authentic and sustainable; the IBCB’s goal is to act as a transformative influence on culture within the banking sector.