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In uncertain times, Swiss banks are considered trustworthy - especially for clients from abroad (symbolic image)
Keystone
The assets managed by 230 Swiss banks reached a record level in 2024. According to experts, they also benefited from foreign clients who brought their money from the US to Switzerland due to geopolitical uncertainties.
According to a statement issued by the Swiss Bankers Association on Thursday, assets under management by Swiss banks rose by 10.6 percent to CHF 9284 billion last year. Foreign clients accounted for CHF 4225 billion and domestic clients for CHF 5059 billion.
Assets from abroad were 10 percent higher than in the previous year. Switzerland thus remained the world leader in cross-border wealth management for private clients.
Experts surveyed by the Bankers Association attributed the growth primarily to geopolitically motivated capital inflows, as Switzerland once again proved its role as a safe haven, according to the report. Political stability, legal certainty and a stable currency were cited as key factors for the attractiveness of the location.
According to the experts' estimates, cross-border wealth management is likely to continue to grow in 2025. Experts from the Swiss Banking Outlook expect growth in the range of 2.5 to 5.0 percent. According to the outlook, the inflow of new money will be driven in particular by geopolitical risks and uncertainties in the US market.
28.08.2025, 09:34
