Below is a list of the largest and best banks in Switzerland ranked by total assets. There are about 250 banks operating in Switzerland including two big banks, 24 cantonal banks, regional and savings banks, private banks, Raiffeisen group, and subsidiaries and branches of foreign banks. FINMA (Swiss Financial Market Supervisory Authority) regulates most banking activities in the country. Swiss National Bank (SNB), founded in 1907, is the country’s central bank responsible for monetary policy.
UBS Group AG is the largest bank in Switzerland and one of the leading financial institutions in the world. It operates through the following business units: Wealth Management, Global Asset Management, Wealth Management Americas, Investment Bank and Retail & Corporate division. UBS was named Best Bank in Switzerland by Euromoney and Best Private Bank for Business Owners by Global Finance. As at March 31, 2020, it had US$1,098 billion in total assets and US$58 billion in shareholders' equity. The company’s market capitalization was US$42 billion as of June 22, 2020.
Credit Suisse Group AG is the second largest bank in Switzerland based on total assets. It operates through three main business lines: Swiss Universal Bank (SUB), International Wealth Management (IWM) and Asia Pacific (APAC). Credit Suisse was named The World's Best Bank for Wealth Management and Best Private Bank in the Middle East by Euromoney. As of March 31, 2020, it had total assets of US$869 billion and assets under management of US$1.43 trillion. The company’s shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).
Raiffeisen Schweiz is the third biggest banking group in Switzerland with about 2 million cooperative members, 3.5 million customers, 11,000 employees and 850 locations across the country. The Group includes about 230 autonomous Raiffeisen banks. The company’s total assets and mortgage loans amounted to US$260 billion and US$194 billion, respectively, as of December 2019.
Zürcher Kantonalbank (ZKB) is the largest cantonal bank in Switzerland. With more than 5,000 employees, $171 billion in assets and over 60 branches, ZKB has the largest branch network in the canton of Zurich. It also has representative offices in Sao Paulo, Beijing, Mumbai and Singapore. ZKB is a universal bank offering savings and checking accounts, mortgages, auto loans, SME loans, microloans, investments, retirement planning, trading and capital markets, private banking, mobile and online banking and more.
Julius Baer Group is the leading Swiss private bank offering investment and wealth planning services to private clients worldwide. With more than 6,600 employees, it maintains offices in key financial centers including London, Frankfurt, Luxembourg, Monaco, Hong Kong, Tokyo and Singapore. The company’s assets under management amounted to approximately 400 billion Swiss francs as of June 2020. Julius Baer shares are traded on the SIX Swiss Exchange, with a market capitalization of US$11 billion as of June 8, 2020.
Banque Cantonale Vaudoise
Banque Cantonale Vaudoise (BCV), founded in 1845, is a full-service bank headquartered in Lausanne. With about 1,900 employees, BCV is the Canton of Vaud’s leading bank providing retail and corporate banking, private banking, wealth management, foreign-exchange, trading and other services through about 65 local branches and 220 ATMs. It also has a branch in Guernsey. The company is among the top-rated banks in the world.
EFG International is a Switzerland-based private banking group with about 40 locations around the world including Europe, the Americas, Asia Pacific and the Middle East. The company employs 3,150 people and is headquartered in Zurich. As of December 2019, EFG reported total assets under management and administration of about CHF 173 billion.
Basler Kantonalbank (BKB) or Basel Cantonal Bank is a Swiss cantonal bank offering retail, corporate and private banking services. It employs about 1,280 people and operates through 15 branches. As of December 31, 2019, the company reported US$46 billion in total assets, US$29 billion in mortgage loans, US$27 billion in customer deposits, US$115 million in net income and US$669 million in revenue.
Luzerner Kantonalbank (LUKB) is among the ten largest banks in Switzerland based on total assets. Founded in 1850, it is the leading bank in Canton Lucerne with about 25 branches, 1,040 employees, US$47 billion in total assets and US$25 billion in deposits as of March 31, 2020.
St.Galler Kantonalbank (SGKB) offers financial services to the local population and small & middle-sized enterprises in the Canton of St.Gallen. SGKB is listed on the Swiss stock exchange and the Canton owns 55% of the share capital. SGKB was established in 1868 and employs over 1,100 people.
Related articles: Foreign Banks in Switzerland
Top 20 Banks in Switzerland
The following is a ranking of the largest Swiss banks by total assets.
|Rank||Bank||Total assets, US$b (December 31, 2019)|
|2||Credit Suisse Group||807.123|
|5||Julius Baer Group||104.605|
|6||Banque Cantonale Vaudoise||49.570|
|10||St. Galler Kantonalbank||36.849|
|11||Berner Kantonalbank (BEKB/BCBE)||33.759|
|12||Union Bancaire Privee (UBP)||33.581|
|14||Valiant Holding AG||30.659|
|17||Vontobel Holding AG||26.901|
|19||Banque Cantonale de Geneve (BCGE)||25.547|
|20||Banque Cantonale de Fribourg||25.260|