Overview of Banks in Switzerland

If we talk about a wealthy nation, Switzerland is one of the few countries in Europe that stands out. Switzerland is among the top countries in Western Europe, with a higher per capita Gross Domestic Product.

Even the Swiss Franc (CHF) value has been quite stable compared to other currencies.

In 2009, the financial sector of Switzerland employed 195,000 people. However, they engaged 135,000 people only in the banking sector. In the same year, the financial sector amounted to 11.6% of total GDP, and 5.6% of the workforce was employed in the financial industry.

According to Moody’s Investor Service, Switzerland’s banking system is stout because the operating conditions are so good. The only challenge of the Swiss banking system is a low-interest rate and inflation in the housing price.

Structure of Banks in Switzerland

The most important aspect of Swiss banking is its financial authority, The Swiss Financial Market Supervisory Authority (FINMA), which controls and regulates the whole banking system in Switzerland.

Two banks have acquired more than 50% of the country’s total deposits. These banks are UBS and Credit Suisse.

Other than that, Swiss banks can be divided into a few categories – foreign banks, private banks, big banks, cooperative banks (Raiffeisen group), and cantonal banks. Cantonal banks are government-owned commercial banks that amount to around 30% of total banks in Switzerland.

List of Top 10 Banks in Switzerland

  • UBS GroupCredit SuisseRaiffeisen SwitzerlandZurich Cantonal BankJulius Baer GroupBanque Cantonale VaudoiseEFG InternationalBasler KantonalbankLuzerner KantonalbankGaller Kantonalbank

Let us look at each of them in detail (Source: relbanks.com).

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#1. UBS Group AG:

UBS Group AG was established in 1862, around 160 years ago. Its headquarter is situated in Bahnhofstrasse 45, Zurich. As of 2020, it had total assets of $3.49 trillion. About 71,551 people work here. It is a public company, and it merged with PaineWebber in 2000. In 2020, the operating income of UBS was $32.39 billion. In addition, it had total equity of $59.4 billion in 2020.

#2. Credit Suisse:

Credit Suisse was founded in 1856, around 166 years ago. Its headquarter is located in Zurich. In 2020, it had total assets of CHF 892.995 billion. At the end of 2019, about 47,860 people worked here.  Credit Suisse focuses on investment banking, asset management, and private banking. At the end of 2020, the operating income Operating IncomeOperating Income, also known as EBIT or Recurring Profit, is an important yardstick of profit measurement and reflects the operating performance of the business. It doesn’t take into consideration non-operating gains or losses suffered by businesses, the impact of financial leverage, and tax factors. It is calculated as the difference between Gross Profit and Operating Expenses of the business.read more of Credit Suisse was CHF 3.865 billion. It also had total equity of CHF 50.02 billion in Q3 2020.

#3. Raiffeisen Switzerland:

Raiffeisen Switzerland is the third top bank in Switzerland after UBS and Credit Suisse. It is a cooperative bank. It has been serving around 3.8 million customers, of which 1.9 million are cooperative members or co-owners of Raiffeisen. The group has more than 1004 branches in Switzerland. And it has around 292 cooperatively structured banks. This cooperative bank is also one of the members of the International Raiffeisen Union (IRU).

#4. Zurich Cantonal Bank:

Zurich Cantonal Bank was established in 1870, around 152 years ago. Its headquarter is situated in Bahnhofstrasse 9, Zurich. At the end of 2014, it had total assets of CHF 156.50 billion. Around 4825 people work here. The focus of this bank is to provide services like commercial banking, retail bankingRetail BankingRetail banking or personal banking refers to the financial services offered by the financial institutions exclusively to the individual clients. The consumer banking provides personal loan, savings account, debit cards, credit cards, locker, etc.read more, private equityPrivate EquityPrivate equity (PE) refers to a financing approach where companies acquire funds from firms or accredited investors instead of stock marketsread more services, investment management, and investment banking. At the end of 2014, the operating income of this bank was CHF 1935.22 million. It had a net incomeNet IncomeNet income for individuals and businesses refers to the amount of money left after subtracting direct and indirect expenses, taxes, and other deductions from their gross income. The income statement typically mentions it as the last line item, reflecting the profits made by an entity.read more of CHF 647.50 million in the same year.

#5. Julius Baer Group:

Julius Baer Group was founded in 1890, around 132 years ago. Its headquarter is located in Zurich. At the end of 2021, it had total assets of CHF113.578 billion. About 6,667 employees are employed here. The focus of Julius Baer Group is on wealth management and private banking. At the end of 2013, the revenueRevenueRevenue is the amount of money that a business can earn in its normal course of business by selling its goods and services. In the case of the federal government, it refers to the total amount of income generated from taxes, which remains unfiltered from any deductions.read more of this bank was CHF 2.195 billion. In addition, it had total equity of CHF6.725 billion in 2021.

#6. Banque Cantonale Vaudoise:

Banque Cantonale Vaudoise was established in 1845, around 177 years ago. Its headquarters is located in Lausanne. At the end of 2018, it had total assetsTotal AssetsTotal Assets is the sum of a company’s current and noncurrent assets. Total assets also equals to the sum of total liabilities and total shareholder funds. Total Assets = Liabilities + Shareholder Equityread more of CHF 47.8 billion. Around 1,896 people are employed in the bank. The specialty of this bank is that this bank is part of 24 cantonal banks that serve 26 cantons of Switzerland. In addition, it has a branch in Guernsey. Unfortunately, it does not have any state guarantee for its liabilities.

#7. EFG International:

EFG International was founded in 1995, around 27 years ago. But, compared to other banks, it is a new bank in Switzerland. EFG International headquarters are in Zurich. At the end of 2020, it had total assets of CHF 40.637 million. Around 3,073 people work here. Its main focus is on private banking. At the end of 2020, the operating income of this bank was CHF 1.130 billion. In addition, it had total equity of CHF 1.758 billion in the same year.

#8. Basler Kantonalbank:

Basler Kantonalbank was established in 1899, around 123 years ago. It has over 49 branches across Switzerland. At the end of 2017, it had total assets of CHF 24085 million. It employed about 1,284 people in the bank in 2015. The specialty of this bank is that this bank is part of 24 cantonal banks that serve 26 cantons of Switzerland. It has a full state guarantee of state liabilities. It had an operating income of CHF 1160.09 million at the end of 2017.

#9. Luzerner Kantonalbank:

Luzerner Kantonalbank is one of the most significant cantonal banks in Switzerland. Luzerner Kantonalbank has a market share of 50%-60%. It was established in 1850, around 172 years ago. Its headquarters is located in Luzern. At the end of 2014, it had total assets of CHF 29381.43 million. About 948 employees are employed in the bank. It had an operating income of CHF 451.61 million at the end of 2014.

#10. Galler Kantonalbank:

Galler Kantonalbank in Switzerland was founded in 1868, around 154 years ago. It is a joint-stock company Joint-stock CompanyA joint stock company is one in which the company’s shares or stocks are jointly held by shareholders in some proportion and in which they have share in the profits based on their shareholding. Each holder is only liable for the amount of their shareholding, and they are free to transfer their shares.read more. At the end of 2016, it had total assets of CHF 32.2 billion. About 1227 employees have been employed here. It is a universal bankUniversal BankUniversal banking, in contrast to traditional banking institutions, offers a wider range of banking and financial services, including insurance, development banking, investment banking, commercial banking, and other financial services.read more. And its main focus is on private bankingPrivate BankingPrivate banking refers to a type of banking and financial service offered by certain banks only to high-net-worth individuals (HNWIs). Clients opting for this service are individually assigned a financial representative who personally takes care of their banking needs.read more, corporate finance, real estate financing, and standardized banking services. This bank is the sixth largest cantonal bank in Switzerland.

We hope you liked this guide to Banks in Switzerland. We provide an overview of the top 10 best banks in Switzerland, their structure, and their financial status. If you are looking forward to making a career in banking, then you can check out some of the awesome resources: –

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