The ethics of profitability... what would you do?

Tuesday 29 September, 2020
by Anonymous

You are an Executive General Manager in a large financial institution. There are some changes in the pipeline for the business and the board is mostly in support of them. The changes will benefit a majority of customers, but not the entire customer base. Some will in fact even be worse off. A small adjustment would mean all customers benefit, however this is not in the favour of maximum profitability. You’re not convinced the business is doing the right thing with the choice it’s leaning towards.

What would you do?

  • What is your duty in this situation?
  • Who are you most accountable to?
  • What ethical considerations would you give to this?

We challenge you to create a healthy discussion with your colleagues and post a comment below. You could even encourage them to consider taking The Banking and Finance Oath!

Please share your ethical dilemmas with us - we can post them anonymously. You can email your dilemmas to dilemma@thebfo.org

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The Oath

  • Trust is the foundation of my profession.
  • I will serve all interests in good faith.
  • I will compete with honour.
  • I will pursue my ends with ethical restraint.
  • I will help create a sustainable future.
  • I will help create a more just society.
  • I will speak out against wrongdoing and support others who do the same.
  • I will accept responsibility for my actions.

In these and all other matters;
My word is my bond.

The Vision

A banking and finance industry that meets the community’s needs and has its full confidence thereby fulfilling its integral role in society.