Swiss banking sector expects further growth after record year
The annual Banking Barometer published by the Swiss Bankers Association (SBA) shows a positive picture for 2025: aggregate net income rose by 5.8% to an all-time high of CHF 73.8 bn, while assets under management also reached a new record level. The chief investment officers and chief economists of the banks in Switzerland expect net income to grow further in 2026. The consensus forecast according to the Swiss Banking Outlook includes a continued increase in commission business and services in particular.
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The Swiss economy grew by 1.5% in real terms in 2025, remaining below the long-term average. The trend was mixed, with positive impetus coming from trade, financial services and the chemical and pharmaceutical industry, while other manufacturing industries experienced a downturn.
Banking Barometer
Swiss banking sector remains robust despite challenging economic and regulatory environment
The Swiss banking sector remains on a strong footing in spite of the volatile trade policy and geopolitical environment, zero interest rates and heightened risks to financial stability, and it posted outstanding results in 2025. A key factor for future developments in banking regulation will be ensuring that it strengthens stability while also preserving the Swiss banking centre’s international competitiveness.
Net income reaches all-time high in 2025
The banks in Switzerland had a successful year overall in 2025. Aggregate net income grew by 5.8% year-on-year to an all-time high of CHF 73.8 bn. This was helped in particular by the result from commission business and services (up 6.5%) and the other result from ordinary activities (up 26.6%). The result from interest operations was depressed by ongoing margin pressure, falling by 0.8% despite higher lending volume.
Assets under management at record level
Assets under management were up 4.8% in 2025 at a record CHF 9,729 bn and broke through the CHF 10,000 bn barrier for the first time in the first half of 2026, reaching CHF 10,119.5 bn. The main reason for this was the positive stock market trend, which led to a significant increase in customers’ securities holdings. Assets of both domestic and foreign customers increased, underscoring Switzerland’s continued appeal as a wealth management hub as well as the trust its banking centre enjoys, especially in times of geopolitical uncertainty.
Mixed employment trends among banks, with stable outlook
Overall, the banks employed 92,002 full-time equivalents (FTEs) in Switzerland at the end of 2025, a decrease of 2,345 or 2.5% year-on-year. Excluding the large bank, all other banking categories recorded an increase in headcount. The SBA survey shows that headcount reduced further in the first half of 2026, mainly due to falling staff numbers outside Switzerland. The experts surveyed have cautiously positive expectations overall for the rest of 2026: just under 60% expect headcount to remain stable, while around a third expect it to rise.
Swiss Banking Outlook
Commission business and services to prop up growth going forward
The experts who took part in the survey expect a positive trend in net income on the whole for Switzerland’s banks in 2026. Over half anticipate a higher result, with a third predicting that it will remain stable and none expecting a decline. The result from commission business and services continues to be the main growth driver: 73% of respondents think it will increase, while traditional interest business is likely to remain under pressure against a backdrop of persistent zero interest rates.
Switzerland’s role as leading hub for cross-border wealth management intact
Cross-border wealth management is set to remain a central pillar of Swiss banking in 2026. A majority of the experts surveyed expect further growth as foreign customers value Switzerland’s enduring appeal as a safe and stable place to store wealth in a volatile geopolitical environment. Respondents cite legal certainty and political stability as key factors in Switzerland’s favour that should continue to attract capital inflows.
Digital transformation, artificial intelligence and increasing regulation influencing competitiveness
The survey participants view the digital customer experience as the greatest opportunity for the Swiss banking industry. At the same time, 86% of those polled think that a successful approach to artificial intelligence is vital to international competitiveness. The biggest risks cited by the experts are the increasing pressure of competition from digital platforms and technology providers and the growing density of regulation, which 93% see as important or very important.