Banks
About one third of all the 330 or so banks in Switzerland have their headquarters in the city or canton of Zurich. As well as the largest Swiss banks, many other national and international banks are present in the Zurich Financial Center, where they offer premier banking services to clients from all over the world.
Above-Average Importance of the Banking Sector
The banking sector in Switzerland is of above-average importance as compared to those in other countries. At the end of 2009, the total of all assets in the banking sector was CHF 3582 billion. As well as the two big banks - Credit Suisse and UBS - there are numerous other banks with widely varying strategic orientations.
Ideal Location Factors for Banks
Various factors mark out Switzerland and Zurich in particular as ideal locations for banks: stability and reliability, the high quality of (financial) services, an infrastructure that functions faultlessly, the country's central position in the heart of Europe, its large and highly qualified labor force, the favorable framework of legal conditions, the stability of the Swiss franc, and efficient and consistent supervision by the Federal Financial Market Supervisory Authority (FINMA). One third of the 330 or so banks in Switzerland have their headquarters in Zurich. There are also more than 300 bank branches which form an extensive network serving the whole of Canton Zurich.
Banking Confidentiality
Swiss banking secrecy, also known as bank-client confidentiality, protects citizens' financial privacy against unauthorized examination by other private individuals or by the government. However, it offers no protection for criminals thanks to a series of limits on banking secrecy which are stipulated by law. Switzerland is at the forefront of the fight against cross-border financial crime.
Federal Department of Finance (FDF):
Banking Secrecy and international Tax Issues
Banks: A Huge Variety to Meet Every Requirement
Banks are defined as companies which operate mainly in the financial sector, and which accept deposits from the general public and grant loans. Banks can be classified in various groups according to their (core) activities and their clientele. The main groups of banks are: major ('big') banks, cantonal banks, commercial and brokerage banks, Raiffeisen banks, regional banks, and foreign banks. More information: Statistics of the Swiss National Bank.