We need a culture based on a quote from Seneca: “Shame may restrain what the law does not prohibit.” Of course it was, in the end, only a few black sheep who gave an entire industry a bad name. However, we need a culture that transcends short-term yields to look at the bigger picture. Banks have a responsibility to the economy and to society.
Once they fulfil this responsibility, they will regain public confidence. 6. Conclusion  Ladies and gentlemen, the world of banks is changing. In my remarks, I have discussed various factors affecting the German banking industry’s path to the future. These include stricter regulation and European supervision, but also tougher competition.