23/05/2019
The image of Swiss banks is improving
Swiss banks’ image has improved among the Swiss population in the past two years, according to a survey by the Swiss Bankers Association (SBA) of 1000 citizens released on 22 May. This is the highest opinion the Swiss have had of their banks since the 2008 financial crisis. In this survey, which is conducted every two years, 51% of respondents said they had a “positive” view of banks. 7% of them even have a “very positive view”. These figures are up from 44% and 5%, respectively, in the previous study. One figure that has not changed since 2017: 29% of respondents had “neither a positive nor negative” opinion. Respondents having a negative opinion fell to 11% from 19% two years ago. Regarding societal roles, banks were rated about the same as the chemical and pharmaceutical industries, IT and telecommunications, and tourism as contributors to the global economy. A narrow majority of respondents believe that banks are important employers and taxpayers. Meanwhile, 48% believe that they are at the heart of money laundering and financial scandals, and 44%, that they place profits ahead of social responsibility. 56% of respondents believe that the Swiss financial market is more competitive than its rivals in the UK, Singapore, Luxembourg and the US, with most of them citing Switzerland’s political and economic stability.
