The banking sector in Switzerland differs by a large with regard to their size, business focus, geographically and in legal form. Swiss National Bank is the Central Bank of Switzerland and which form the monetary policy of the country as an independent central bank. The primary goal of SNB is price stability and creating an appropriate environment for economic growth. The banks in Switzerland make a significant contribution to the success of the Swiss financial center. After the financial crisis in 2008/09, Switzerland did many changes in financial regulations.
1. UBS Group AG
UBS is a leading company in Switzerland present in all major financial centers worldwide. The UBS group has offices in more than 50 countries. UBS has 36% of its employees working in Switzerland and it employs about 60,000 people around the world. The Bank provides services to private institutional, corporate clients, and retail clients in Switzerland with superior financial advice and solutions.
In Switzerland, UBS operates through 280 branches and 4,500 client-facing staff. The bank reaches 80% of Swiss wealth and serves one in the three households. It is the only country where UBS country maintains its leading position. In all of the five business areas that are wealth management, corporate and institutional banking, retail, assets management, and investment bank services. The bank net profit to shareholders for 2018 is 4.897 billion dollars. It’s a very big amount as compared to the 2018 and 2017 figure of 969 million dollars. The bank posted a Profit of 690 Million US dollars during Q4 2018 which is short of expectations.
2. Credit Suisse Group AG
Credit Suisse bank founded in 1856 and today bank has a global reach with operations in more than 50 countries and 46,840 employees from over 170 different nations. The bank serves through three regionally-focused divisions to its clients that are, International wealth management, Swiss universal bank, Asia Pacific. Again this division supported by two subdivisions that are global markets and investment bankings and capital markets. Group posted an annual income of CHF 3.4 billion Up 90 % against 2017 and net income to shareholders of CHF 2.1 billion for 2018. A group is one of the most important groups in the world on which international financial stability depends.
3. Raiffeisen Switzerland
Raiffeisen is the third-largest bank in the Swiss banking sector and leading Swiss retail bank. The bank has 1.9 million co-operative members and 3.8 million clients and operates through 896 locations throughout Switzerland. As of June 2018 assets under management with the bank were CHF 211 billion and CHF 185 billion loans to clients. The operating profit of the bank during the first half of 2018 was CHF 416 million. The market share in the mortgage business is about 17.6% and it provides a wide range of products and services through its group of companies, joint venture, and enterprise.
4. Zurich Cantonal Bank
The bank was founded in 1870 as the bank of the citizen of Zurich. Bank offers a comprehensive range of products and services and it’s a counterweight to major banks and private banks. Net Profit rises to CHF 788 Million in the year 2018 which is 1 % higher than the previous year. Operating profit grows by 14% to CHF 892 Million. Bank offers services in private banking, commercial banking, and assets management. The Bank has a total asset of CHF 164 billion and more than 5,000 employees working in the bank and it operates through more than 80 branches in Switzerland.
5. Banque cantonale de Genève (BCGE)
It is the regional bank founded in 1816 and offers a comprehensive range of products and services for retail and corporate customers. It provides services like deposit products, personal and mortgage loans, debit and credit cards, assets management, private banking, etc. Bank posted excellent results in 2018 with operating income reached CHF 161.3 Million increased by 25.7% and net profit is CHF 91.2 million. Bank operates with 21 branches and 124 ATMs and its employees nearly 800 people. The bank is rated as stable by top rating agencies.
Posted By, Shubham Sharma