The changing face of Swiss banks

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A new perspective on the evolution of Swiss banking

The story of Switzerland’s banks is long and eventful. Now, for the first time in half a century, a newly prepared database on Swiss banking history is available.

A historical analysis led by Prof. Simon Amrein of the Lucerne University of Applied Sciences and Arts (HSLU) offers a unique insight into the long-term development of the Swiss financial centre and banking business since the 18th century. In cooperation with the Swiss Bankers Association, selected findings are being made accessible to the general public for the first time.

Continual growth and consolidation in the banking market

From the creation of the first banks to today’s modern banking system, the sector in Switzerland has passed through a number of phases. A new database documents the existence of more than 1,900 institutions since the 18th century.1 This highlights just how dynamically the sector has developed down the years, and how structural change has always been a characteristic feature. Phases of growth in the number of banks have repeatedly been followed by consolidations, with mergers, takeovers and liquidations being the rule rather than the exception. The statistic that over 90% of the banks which existed at one time or another have now vanished underscores that today’s banking landscape is the outcome of a constant process of adaptation throughout the last few centuries. The project thus provides a factual basis for understanding current trends in the historical context.

Methodology and data

The Swiss banking history database was put together at the Lucerne University of Applied Sciences and Arts under the auspices of Prof. Simon Amrein. The analysis collates information on every documented bank that has existed in Switzerland, according to historical sources. It lists years of foundation, locations, bank categories, number of depositors, total assets and other key figures. The database is drawn from primary and secondary sources such as publications from individual banks, savings bank statistics (1852–1918), the Swiss National Bank (Banks in Switzerland, 1913–2014) as well as data at individual bank level disclosed in newspapers and magazines. The evolution of each bank has been researched, including mergers, takeovers and liquidations, in order to track structural changes in the banking market.

1 Note on representativeness: Statistical recording of banks is challenging, owing to changes in regulation and publication requirements. Institutions that did not publish any information or failed to respond to surveys could not be included in the dataset.