Swearing to be a good banker: Perceptions of the obligatory banker’s oath in the Netherlands

After the banking crisis, the Dutch government decided to make it a legal requirement for the employees of banks to make a moral-ethical statement or ‘banker’s oath’. There is, however, no empirical study upon which this drastic measure was based, and from which positive effects can be expected. We therefore conducted a survey among bank employees and their direct clients to check their possible familiarity with such an oath and the expected impact. This article provides a clear view on perceptions of the banker’s oath and is a solid starting point for further research. The results show that trust in the banker’s oath does not seem to be very high. Bank employees in particular are opposed to it. Furthermore, knowledge of the oath concept appears to be low. The results make it doubtful whether a banker’s oath can meet expectations; rather, it is merely the capstone in an attempt to promote integrity and restore confidence in the financial sector. At this moment, the banker’s oath is not a professional oath, and though legally required is also not a political oath that is taken before the government.