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Swiss National Bank News

27 Jun 2019

Money stashed by Indians in Swiss banks declines, hits record low in 2 decades

Aggregate funds of all foreign clients of Swiss banks also fell by over 4 per cent to CHF 1.4 trillion (nearly Rs 99 lakh crore) in 2018, as per the annual banking statistics released by the Zurich-based central banking authority of Switzerland.

Indians Swiss bank account

09 Jan 2019

Loans, deposits by Indians in Swiss banks down 34.5% in 2017

The use and disclosure of the information received is governed by the confidentiality provisions of the India-Switzerland tax treaty.

25 Jul 2018

Swiss money: SNB says its data include total deposits of Indian customers

Only only one Swiss bank -- Credit Suisse -- has a branch in India, while two others -- UBS and Zurcher Kantonal Bank -- are present in the country through one representative office each, as per the RBI data updated till January 31, 2018.

24 Jul 2018

Swiss bank deposits reduced by 80% after Modi government came to power: Goyal

Goyal told Rajya Sabha that loans and deposits of individual Indians in the bank decreased by 34.5 percent in the last year compared to the previous year.

28 Jul 2017

Amazon wobble creates ripples across worldwide stock markets

Amazon has been one of the companies powering the sector this year, with a 40 percent rise up until Thursday.

02 Jul 2017

Money in Swiss banks: India slips to 88th place with Rs 4,500 crore; UK on top

India has slipped to 88th place in terms of money parked by its citizens with Swiss banks, while the UK remains on the top.

29 Jun 2017

Indians' money in Swiss banks hit record low of 676 million francs

Money parked by Indians in Switzerland's banks nearly halved to 676 Swiss francs (about Rs 4,500 crore) in 2016 to hit a record low amid a continuing clampdown on the suspected black money stashed behind their famed secrecy walls.

Switzerland bank

29 Jun 2017

Swiss banks' profit halves to CHF 7.9 billion; staff count down

Banks in Switzerland saw their profits nearly halve to CHF 7.9 billion (over Rs 53,000 crore) in 2016 amid continuing global pressure on their famed secrecy walls.

Swiss central bank

27 Feb 2017

Cash no longer king? Swiss National Bank begs to differ

The Swiss central bank sought on Monday to allay fears among citizens that bank notes could eventually be phased out as a result of global money-laundering rules or the rise of alternative payment systems.

Swiss central bank

31 Jul 2015

Swiss central bank books record loss of 50 billion francs

The decision to scrap the limit sent the franc -- a refuge currency -- soaring in value against major currencies and unleashed turbulence on global markets.

18 Jun 2015

Swiss banks' profit rises; staff count down

Under glare for being an alleged safe haven for illicit funds from across the world, Swiss banks saw their profits rise during 2014 to close to 19.5 billion Swiss francs even as their staff count declined in the year.

18 Jun 2015

Swiss banks' profit rises; staff count down

Under glare for being an alleged safe haven for illicit funds from across the world, Swiss banks saw their profits rise during 2014 to close to 19.5 billion Swiss francs even as their staff count declined in the year.

Swiss central bank

30 Apr 2015

Swiss central bank posts massive loss on soaring franc

The Swiss central bank said Thursday it had posted loss of 30 billion francs in the first quarter due to a jump in the franc`s value which led to huge exchange rate-related losses.

Swiss National Bank

26 Mar 2015

SNB says spent $27 billion to defend franc before dropping peg

The Swiss National Bank (SNB) spent 25.8 billion Swiss francs ($26.91 billion) defending the currency late last year before abandoning its peg as too costly for the country`s economy, it said on Thursday.

Swiss central bank

25 Feb 2015

Swiss central bank under scrutiny after franc shock

Six weeks after a fateful decision that blasted its currency skywards, Switzerland`s central bank is coming under intense scrutiny, with critics calling for changes to its insular policy practices and century-old ownership structure.

12 Feb 2015

Credit Suisse board takes 25 pct pay cut after U.S. tax fine

Board members of Credit Suisse are taking a 25 percent pay cut and bonuses for top staff are being slashed after a hefty fine from U.S. authorities, the bank said as it also set out a range of measures to tackle the surge in the Swiss franc.

17 Jan 2015

Swiss central bank defends franc move despite turbulence

Switzerland`s central bank on Saturday stood by its shock decision to let the franc soar, insisting the subsequent turbulence rocking global markets and the Swiss economy since the move would eventually subside.

16 Jan 2015

Asia shares wobble; Swiss move heightens volatility

MSCI`s broadest index of Asia-Pacific shares outside Japan edged down about 0.1 percent in early trade.

15 Jan 2015

Switzerland ends euro minimum exchange rate, cuts interest rate

In a shock announcement Thursday, Switzerland`s central bank said it was ending a three-year bid to artificially hold down the value of the Swiss franc against the euro, in a move that immediately sent the safe haven currency soaring.

Swiss National Bank

18 Dec 2014

Swiss national bank introduces negative interest rates

The Swiss National Bank on Thursday said it would introduce a negative exchange rate of -0.25 percent on sight deposit account balances at the central bank as it seeks to deter safe-haven buying.

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