Swiss banks manage record CHF10 trillion client assets

ASB forecasts further growth for the banking sector in 2026 as well Keystone-SDA

Following a positive 2025, Swiss banks are expected to continue to grow in 2026, despite a challenging business and geopolitical environment and zero interest rates.

This is the forecast of the Swiss Bankers Association (SBA), which says that Switzerland’s appeal as a wealth management centre remains strong.

Last year, assets under management (AuM) at Swiss banks grew by 4.8%, reaching a record CHF9,7 trillion, according to the SBA banking barometer. Growth has continued this year as well, with assets under management exceeding the CHF10 trillion mark.

These increases reflect the resilience of the equity markets, which has led to a marked rise in securities portfolios. Assets of both Swiss and foreign clients rose.

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As a key pillar of growth for the Swiss banking sector, wealth management is expected to continue expanding, as foreign clients value Switzerland as a secure and stable financial centre, added the SBA.

Profits gain momentum

Overall operating profit of Swiss banks resumed growth last year following the decline suffered in 2024, rising by 5.8% to CHF73.8 billion. Commission and service income, up by 6.5%, as well as other current income, contributed to this positive trend.

Net interest income remained modest due to persistent pressure on margins and fell slightly by 0.8%, despite a higher volume of lending.

For this year, more than half of the institutions surveyed expect a further increase in operating profit, whilst a third anticipate stagnation, due to interest rates. No institution expects a decline.

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Commission and service income are expected to remain the main drivers of growth, with 73% of banks forecasting an increase in earnings in these areas. Interest-related income is expected to remain under pressure.

At the end of 2025, banks operating in Switzerland employed around 92,002 people, 2.5% fewer than a year earlier, a decline attributable solely to the merger of UBS and Credit Suisse.

The other banks recorded an increase in their workforce. Employment prospects are moderately positive: 60% of banks expect staff numbers to remain stable, while a third anticipate an increase.

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Translated from Italian, reviewed by an English Department journalist.