The largest banks in Switzerland include “big” banks, Raiffeisen banks, Cantonal banks, foreign banks, and more.
In most cases, these banks cater exclusively to residents and large commercial clients. However, there are a few exceptions.
In this article, we’re going to share the largest banks in Switzerland and help you navigate your options when choosing where to open bank accounts in Switzerland as a foreign non-resident.
Feel free to use the table of contents to jump ahead to the sections most relevant to you.
Table of Contents
- Largest Banks in Switzerland
- Opening Bank Accounts in Switzerland
- Frequently Asked Swiss Banking Questions
- Do You Want Help Opening Bank Accounts?
Largest Banks in Switzerland
The largest banks in Switzerland in terms of total assets are UBS (CHF 1.7 trillion), Julius Baer (CHF 457 billion), Raiffeisen Schweiz (CHF 300 billion), and Zurich Cantonal Bank (CHF 192 billion).
Not surprisingly, the largest banks in Switzerland play a critical role in Switzerland’s economy, providing a wide range of banking services, including private and wealth management services, maintaining stability in the financial sector, and supporting the needs of both resident and non-resident individuals and businesses.
Here are the four largest banks in Switzerland again.
Largest Banks in Switzerland
- Union Bank of Switzerland (CHF 1.7 trillion)
- Julius Baer (CHF 457 billion)
- Raiffeisen Schweiz (CHF 300 billion)
- Zurcher Kantonalbank (CHF 192 billion)
That said, while these four banks are the largest in Switzerland, they represent a small number of the total of 243 banks active in the country. These 243 banks are broken into 9 categories, including foreign banks, cantonal banks, regional banks, private banks, and more.
Of course, finding the right financial institution for your needs requires a combination of finding a trustworthy bank in addition to a bank that will accept your client profile.
This means you need to understand your own client profile, personal or business banking needs, desired deposit level, and much more before you start the process of applying for accounts.
We discuss the costs of banking in Switzerland in our free guide, which you can access by clicking here. But for now, let’s take a look at the largest financial institutions in Switzerland.
Opening Bank Accounts in Switzerland
Importantly, if you are looking to open personal bank accounts in Switzerland as a foreign non-resident, there are other banks (not listed above) that are usually more accessible and better suited to non-residents.
With this in mind, it’s important to directly compare all of the offshore banking options available to you so you can find the one that will realistically open accounts for you. This is especially important if you are opening as a foreign non-resident or for a foreign (or offshore) entity that requires an account in the local currency, the Swiss Franc. In these instances, the largest banks in Switzerland are often more difficult to open with.
That said, to find the best banks in Switzerland for your needs, it’s important to find the ones that will realistically open accounts for you. In other words, you should directly compare all of the account opening options, including the benefits of banking in Switzerland, so you can identify the one that is best suited to your banking needs. Of course, depending on your client profile, there could be risks to banking in Switzerland you may need to consider as well. This is especially true if you are looking to send money to Switzerland since some banks may have restrictions on how money is received.
If you would like to start directly comparing your account opening options in Switzerland, you can immediately access hundreds of banks in the GlobalBanks IQ Database. Each bank profile includes detailed account opening requirements, preferred clients, important considerations and risks, and much more. You can see everything you get instant access to when you join GlobalBanks IQ below.
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Frequently Asked Swiss Banking Questions
Below are a few of the most common questions we receive from people asking about the largest banks in Switzerland. If you have further questions you would like answered, don’t hesitate to get in touch.
What Are the Top 3 Banks in Switzerland?
The top 3 banks in Switzerland in terms of total assets are UBS Group, Julius Baer, and Raiffeisen Schweiz. Together, these three banks represent CHF 2.457 trillion in total assets.
Which Is the No 1 Bank in Swiss?
The number one bank in Switzerland in terms of total assets is UBS. Not only does it have over CHF 1.7 trillion in total assets, but it’s also one of the leading banks in the world. UBS offers a variety of banking products and services, including retail banking, investment banking, and wealth management to both non-resident and Swiss resident clients.
What’s the Largest Swiss Bank?
The largest Swiss bank is UBS Group AG. UBS Group AG has been in existence since June 1998. It is now one of the largest banks in the world and the largest bank in Switzerland, with total assets surpassing CHF 1.7 trillion.
What American Banks Are in Switzerland?
The American banks in Switzerland include Citibank, J.P. Morgan, Goldman Sachs Bank, Morgan Stanley, Merrill Lynch, and State Street Bank.
Do You Want Help Opening Swiss Bank Accounts?
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