More than half of the financial services industry believe it will take more than two years for the sector to recover the trust of businesses and the public, according to a new survey, as the financial crisis wreaks long-term damage on the standing of the banking community.

According to a survey by City law firm Eversheds, almost four in five respondents said that the credit crunch has had a "very damaging" impact on the reputation of and trust within the financial services sector.