Antony Jenkins, the chief executive of Barclays bank, has said that the bank could need around a decade to regain customer trust after a series of scandals affected its reputation.

Jenkins took over Barclays in August had said that he is working to change the culture at the bank towards long-term sustainability. Jenkins had said earlier that these legacy issues will arise and the bank will have to deal with them. He also said that bank is in the process of changing the culture of Barclays.

He said that the bank is on track to change its culture but it might take much longer. Jenkins has been working during the year to change things at the bank in order to address issues affecting its relationship with the government and its customers. He said on a radio programme that "without vibrant banks you cannot have vibrant economies".

Meanwhile, the Financial Industry Regulatory Authority (Finra) has imposed a new fine of £2.3 million after it was found that the British bank failed to preserve order data, trade confirmations, account records and other information.