Accounts & Cards
November 13, 2023 - Ralf Beyeler
Which are the biggest Swiss banks? Find the most important information in this guide.
According to the Swiss National Bank (SNB), the balance sheets of all banks in Switzerland combined totaled a substantial 3600 billion Swiss francs at the end of 2022.
Which are the biggest banking groups in Switzerland?
The Swiss National Bank sorts banks into different categories. The following table shows the combined balance sheets across banks in each category at the end 2022:
| Bank category | Balance sheets in billions of Swiss francs |
|---|---|
| Big banks | CHF 1552 billion |
| Cantonal banks | CHF 782 billion |
| Foreign-controlled banks | CHF 358 billion |
| Stock exchange banks | CHF 292 billion |
| Raiffeisen banks | CHF 281 billion |
| Regional and savings banks | CHF 120 billion |
| Private bankers | CHF 8 billion |
| Other banks | CHF 206 billion |
The two big banks UBS and Credit Suisse together are around twice as big, in terms of balance sheets, as all banks in the second-largest group (cantonal banks). Since the data above was published, UBS has acquired Credit Suisse, making it the only remaining Swiss bank in the big bank category. So the big banks category in the table above provides an indication of how big the new UBS is.
Which are the biggest Swiss banks?
The biggest Swiss bank, as per the end of 2022, is UBS, with balance sheets worth 1104 billion US dollars, or 1021 billion Swiss francs. Credit Suisse, which has since been acquired by UBS, takes second place, with 531 billion francs. The Zürcher Kantonalbank (ZKB) is the third-largest Swiss bank, with balance sheets worth 200 billion francs.
Other large Swiss banks that serve individuals are Postfinance (114 billion francs), the Banque Cantonale Vaudoise (59 billion francs), and Migros Bank (57 billion francs).
Raiffeisen banks are a group of 200 different, independent, banking cooperatives. The biggest Swiss Raiffeisen bank is headquartered in Sion in the canton of Valais. It has a balance sheet of 4.1 billion francs. All Swiss Raiffeisen banks together have combined balance sheets of nearly 281 billion francs.
Swiss banks provide more than 100,000 jobs
At the end of 2022, Swiss banks employed around 109,000 people. Of these, around 17,000 are employed outside of Switzerland. The big banks employ the most people, with nearly 36,000 employees. They are followed by cantonal banks with around 18,000 employees, stock exchange banks with 17,000 employees, foreign-controlled banks with 15,000 employees, and Raiffeisen banks with nearly 10,000 employees.
More on this topic:
Swiss bank account and card comparisons
Swiss investment and retirement comparison
Swiss mortgage and loan comparisons
As an enthusiast deeply immersed in the realm of finance and banking, I bring forth a wealth of knowledge to dissect and elaborate on the intricacies of the Swiss banking sector. My expertise is not merely theoretical; it extends into the practical nuances that define this intricate landscape.
The article you provided offers a comprehensive glimpse into the Swiss banking panorama, particularly focusing on the largest players and their respective positions. Let's delve into the key concepts embedded in the text:
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Total Balance Sheets of Swiss Banks (End of 2022): According to the Swiss National Bank (SNB), the cumulative balance sheets of all banks in Switzerland amounted to a staggering 3600 billion Swiss francs at the close of 2022. This figure provides a macroscopic view of the financial magnitude within the Swiss banking system.
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Bank Categories and Their Balance Sheets: The SNB categorizes Swiss banks into various groups, each delineated by their balance sheet sizes at the end of 2022:
- Big banks: CHF 1552 billion
- Cantonal banks: CHF 782 billion
- Foreign-controlled banks: CHF 358 billion
- Stock exchange banks: CHF 292 billion
- Raiffeisen banks: CHF 281 billion
- Regional and savings banks: CHF 120 billion
- Private bankers: CHF 8 billion
- Other banks: CHF 206 billion
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Significance of Big Banks, UBS, and Credit Suisse: The two major players, UBS and Credit Suisse, collectively dwarf the entire second-largest group (cantonal banks) with a combined balance sheet twice as large. Notably, UBS has acquired Credit Suisse, solidifying its dominance in the big bank category.
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Ranking of the Biggest Swiss Banks (End of 2022):
- UBS: CHF 1021 billion
- Credit Suisse: CHF 531 billion
- Zürcher Kantonalbank (ZKB): CHF 200 billion
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Other Significant Swiss Banks:
- Postfinance: CHF 114 billion
- Banque Cantonale Vaudoise: CHF 59 billion
- Migros Bank: CHF 57 billion
- Raiffeisen banks (combined): CHF 281 billion
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Employment in Swiss Banks (End of 2022): At the conclusion of 2022, Swiss banks collectively employed around 109,000 individuals, with approximately 17,000 based outside Switzerland. The distribution among different bank categories is as follows:
- Big banks: Nearly 36,000 employees
- Cantonal banks: Around 18,000 employees
- Stock exchange banks: 17,000 employees
- Foreign-controlled banks: 15,000 employees
- Raiffeisen banks: Nearly 10,000 employees
This information not only showcases the financial magnitude of Swiss banks but also underscores their role as significant contributors to the country's economy, both in terms of financial assets and employment opportunities.
