Banks
Just under one third of the approximately 270 banks in Switzerland have their headquarters in the City of Zurich itself or in the Canton of Zurich.Zurich is Switzerland’s leading banking centre, not least because of its high-quality banking services. Private Banking and Asset Management are particularly significant.
High significance of the banking sector
The banking centre is of immense economic and social significance for the Greater Zurich Area. – inter alia as an employer, as a provider of vocational education, as a lender, as a contracting entity, as a taxpayer and as an important promoter of cultural institutions and events. The attractiveness and prosperity of the region is thus closely linked to the banks here.
Ideal locational factors for banks
Various locational factors distinguish Switzerland, or that is to say, Zurich as an ideal place for banks: stability and solidity, high quality of (financial) services, an infrastructure that functions flawlessly, its central location at the heart of Europe, the many highly qualified employees, a reliable legal framework, the Swiss franc as the national currency and a competent Financial Market Supervisory Authority (FINMA).
Bank secrecy
Swiss bank secrecy, also known as bank client confidentiality, protects the financial privacy of citizens from unauthorised access by other individuals or by the State. However, it does not protect criminals: this is ensured by a number of legal limits to bank secrecy. Switzerland is in the front line in the fight against cross-border financial crime.