Banks in Switzerland

Banks and Saving banks in Switzerland



Banks play an essential role in the Swiss economy, and all of them are regulated by the Swiss Financial Market Supervisory Authority. Regulations regarding privacy are beyond other European policies, and Switzerland has a tradition of bank secrecy, which violation constitutes a crime.

 

Major banks in the country are UBS and Credit Suisse, the largest and the second most important banks, which accumulate over 50% of all Swiss deposits. The rest are small banks operating for a single community or particular clients.

 

The Swiss National Bank acts as a central bank, but the regulatory authority is the Federal Commission.

Besides the “Big Two”, there are cantonal banks. These are 24 independent institutions, present in each canton, excepting Solothuen and Appenzel Ausserrhoden, and they have supported the economy of the  respective canton,  but connected with the others by the Cantonal Banks Group. Private banking offers the same services as big banks, and it is in the hands of private bankers who put their private money in those companies. There is also Cooperative banking, spread in small towns, and they operate independently and all of their members are reponsible for their branch. And at last, we find Islamic banking, its clients are Islamic and non-Swiss citizens and they try to offer Islamic banking services.

Showing 6 Banks in Switzerland


Procredit

Alpen

Bca

Banco Popular

Krediet Bank

Bancolombia

News related with Switzerland Banks


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A court ruling knocks another hole in Swiss banking secrecy - The Economist

... ruling knocks another hole in Swiss banking secrecyThe EconomistDURING his decade-long legal battle with the Swiss authorities, Rudolf...

 

Swiss top court knocks down bid to extend banking secrecy - Reuters

... knocks down bid to extend banking secrecyReutersThe Swiss Banking Act requires employees of Swiss-regulated banks to keep client ...

 

Switzerland tries to stem blockchain exodus by improving access to banks - Reuters

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... US bank keen on Swiss mortgage marketswissinfo.chSwiss retail banks m...

 

DZ Privatbank halves clients while doubling assets under management - The Business Times

... assets under managementThe Business TimesInvested money can be booked at the local cooperative bank, at a branch or directly at DZ Privatbank in Luxembourg or Switzerland. Germany's savings banks, the other big group of lenders in that country, also has its own private banking...

 

Era of bank secrecy ends as Swiss start sharing account data - Reuters

... dataReutersZURICH (Reuters) - The era of mystery-cloaked numbered Swiss bank accounts has officially come to a close as Switzerland, the world's biggest center for managing offshore wealth, began automatically sharing client data with tax authorities in dozens of ...and mor...

 

 

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