Swiss private bank vaults house CHF3.4 trillion

In 2024, Swiss private banks managed a record CHF3.4 trillion of assets. This is the mind-boggling sum reached by consulting firm KPMG, which examined 71 Swiss private credit institutions in its annual analysis. +Get the most important news from Switzerland in your inbox Thanks to the positive development of the financial markets, private banks in Switzerland increased their assets by 14% last year. This is an unprecedented figure. Net new money also contributed to the growth, albeit at a relatively modest CHF72 billion, KPMG said in a statement released today. Medium-sized institutions in particular attracted new money from clients. + How the US tax evasion crackdown impacted Swiss banks “The hiring of client advisors by UBS/CS had only a limited effect in terms of additional new funds,” says Christian Hintermann, head of the study and banking expert at KPMG Switzerland. The revenues of Swiss banks increased from CHF20.5 billion in the previous year to CHF21.4 billion. The ...