Banks need to adapt their business models to cater to the demands of a restless public whose trust in the industry, globally, "is at an all-time low", ANZ's Australian CEO, Phil Chronican, told an industry dinner last night.Speaking at a Finsia dinner held in Melbourne, Chronican reminded his audience that "it only took a few questionable decisions by a small number of very large and supposedly invincible organisations to trigger the breakdown - and a cascading effect never seen before.""The global inter-connectivity of the financial system was put in the spotlight and demonstrated that every player in the financial sector needs to be operating soundly and with integrity or the whole franchise is weakened.    "Like never before, the crisis highlighted the importance of confidence and trust between financial institutions.  We saw that when confidence and trust disappears, so does liquidity. Global economies rapidly contract. "Most of all, the crisis showed the influence our sector has on other parts of the economy - it's no wonder trust is at an all-time low and we have a significant reputation challenge to manage.   "It may have taken only a handful of organisations to bring the sector down - but it will take a united effort to return it to a position of pride."Chronican grumbled that in the Australian context "there has been, as always, the usual backdrop of media and politicians using banking profits to score points.  We all expect a certain amount of populism and are used to it.""My concern is that those doing this know better.  Bank profits are not that high and, by staying profitable, our banks gave our nation stability throughout the crisis and strengthened our economy."But their commentary is influential and damaging, and makes it harder for us to rebuild confidence."