SBA welcomes three new members
The membership of the umbrella association for banks in Switzerland continues to grow. The SBA has already welcomed several new members in recent months (see news articles here and here). Three further institutions have now joined its ranks with effect from June 2022, namely the Bank of China Limited – via its branch in Geneva, QNB (Suisse) SA, which is also based in Geneva, and Grammont Finance SA, which is based in Lutry (Vaud).
Bank of China Limited Geneva Branch
FINMA awarded Bank of China a licence in 2021, allowing it to begin operations in Switzerland. Bank of China is using its Swiss presence as a base for forging closer business, trade and finance links between China and Switzerland and stepping up cooperation between the two countries. Its Swiss operations are focused on corporate clients.
Grammont Finance SA
Grammont Finance SA is based in Lutry (Vaud). The company, founded in 2009, is specialized in equity derivatives trading on the swiss market and in financial engineering.
QNB (Suisse) SA
Headquartered in Geneva, QNB (Suisse) SA is a subsidiary of Qatar National Bank (QNB), which has its head office in Qatar and is considered the largest financial institution in the Middle East and Africa region. The Swiss regulated subsidiary has operated a private banking business in Switzerland for more than ten years offering a full range of Global Private Banking products and services including Sharia compliant solutions with support of the QNB international network.