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What makes Swiss banks unique – and it's not the management of over 9,000 billion
What makes Swiss banks unique – and it's not the management of over 9,000 billion
Banks connect households, companies and the state – and help keep the economy going. Swiss Banking CEO Roman Studer explains how so much would come to a standstill without banks and why the Swiss banking centre is an export hit.
Banks are central to our daily lives: for example, when our salary is paid into our account, we use our credit card to shop online or our rent is debited automatically.
They also keep our savings safe and enable us to invest in the financial markets. Banks manage assets worth over CHF 5,000 billion for domestic customers.
If we lack capital, for example when buying a house or developing new products, they provide loans – currently around 1,400 billion. Without these cash flows, many things would come to a standstill.
‘We all use banking services every day – often without noticing,’ says Swiss Banking CEO Roman Studer. ‘For me, banks are the lifeblood of the economy: they connect households, companies and the state across the entire financial spectrum.’
This is particularly pronounced in Switzerland, as our financial centre is of outstanding international importance. While the financial sector accounts for around 4 per cent of value added in neighbouring countries, here it accounts for around 9 per cent.
Swiss banking: export hit and complete package
‘Switzerland offers a package that is incredibly difficult to replicate,’ says Studer. This includes stable institutions, a reliable currency, political neutrality and a first-class education system.
‘Banks are ultimately made up of people: qualified professionals who advise customers and use technology intelligently. This combination of expertise and responsibility makes all the difference – especially in the digital age.’
Stability in times of crisis
Crises such as the collapse of Credit Suisse and geopolitical uncertainties have shaken public confidence. At the same time, competition is growing from financial centres such as Hong Kong, Singapore and Dubai, which are spending billions to attract companies and assets – often with government support.
Studer emphasises that it is precisely in times like these that Switzerland's strengths, notably stability, neutrality and legal certainty, come into their own. Added to this is the diversity of the financial centre which counts around 230 banks.
Over 9,000 billion Swiss francs is managed from Switzerland worldwide – a historic high. Studer is confident about the future: ‘Swiss banking has been declared dead several times – yet today it is stronger than ever globally.’
