On the significance of the risk of loss of business reputation in the activities of a commercial bank

Today, in a market economy, it is business reputation that is the most significant competitive advantage of any organization. This issue is especially acute for the bank, since the effectiveness of its activities largely depends on the behavior and degree of trust in it of customers, creditors, the state, counterparties and partners. The Bank is the most important business financial intermediary for business participants; settlements are made through it; it is the main creditor and custodian of money capital. And the implementation of this activity depends on the reputation of the bank.