0: Hi and welcome to Finance and Banking Explained today we continue our biggest

3: bank series and we take a look at the top five swiss banks

6: or better yet the largest banks in switzerland. so

10: switzerland is worldwide known for its banking system with the best known

13: features, being it's reliable it's safe and it's ideal

16: for not paying your local taxes now in the past this was very true.

20: However, recently things have changed quite a bit and the swiss are trying

23: very hard to remove that last part from their reputation

27: so with that said the swiss banking sector consists of five type of banks

31: these are the big banks the foreign banks the cooperative banks

34: the private banks and the cantonal banks which are government-owned commercial

38: banks and in the swiss banking sector the two

40: largest banks control over 50 percent of all deposits

44: so let's have a look at the top five giants in the swiss banking sector

48: at number five on the list we find the zurich cantonal bank which is a

51: government-owned regional bank focusing primarily on providing banking services

55: for the people of zurich the bank's total assets under management

58: reached 333 billion swiss francs or 365 billion dollars and zurich

64: cantona has over 5 000 employees with 80 branches in switzerland the

69: number 4 spot on the list is held by the rife eisen group

72: which is a leading retail bank in switzerland the bank controls 17.4

76: percent of the mortgage market and as it being a cooperative bank it

80: has 1.9 million members who are all co-owners of the bank now

84: the arrive eisen group comprises of 11 000 employees

87: and manages an asset pool of over 231 billion us dollars

92: moving up on the list we find the julius baer group ranking at number three

96: this is a private bank that specializes in wealth management investment services

100: and asset management for both private and institutional clients

103: their assets under management are 426 billion swiss francs

107: or 505 billion dollars u.s and they have over 6 000 employees

112: employed the profit before taxes last year were 970 million in swiss francs or

116: one billion dollars u.s before we move on to the final giants in swiss banking

121: please like and subscribe to the channel for more finance and banking information

125: now the second biggest bank in switzerland is credit suisse which is a

128: global investment bank with a strong focus on wealth management

131: the bank is most active in europe and asia pacific

135: a credit suisse was founded in 1856 when its main purpose was to finance the

139: expansion of the railroad network in switzerland

142: today the bank has well over 1.6 trillion dollars in assets on the

145: management and over 47 000 employees last year the

149: bank did 24.6 billion dollars in revenue with an income before tax of 5.17

155: billion dollars and at number one we find the biggest

158: bank in switzerland ubs a truly global powerhouse with more than

162: 2.6 trillion dollars in assets under management

165: now ubs was born out of a merger between union bank of switzerland and the swiss

169: bank corporation both union bank and sbc were formed to

173: boost the financing of the fast industrial developments

176: that were going on in switzerland at the time now currently ubs is a global

180: investment bank that focuses on asset and wealth management in europe

184: north america and asia last year the bank's revenue amounted to

187: 28.9 billion dollars u.s with a profit before tax

191: of 5.6 billion dollars this completes the list of

194: largest banks in switzerland please like and subscribe to the channel for more

197: finance and banking information take care