Deutsche Bank (Suisse) announced a massive leap of 191% in profits compared to 1999 in its private banking sector. The overall results showed a 41% increase compared to 1999. In March this year, Deutsche Bank concentrated all its international private banking activities in Geneva.

March news item:

Deutsche Bank, the giant German bank, has re-grouped all its international private banking activities and intends to develop a global and local strategy from Switzerland. In Geneva for 20 years, Deutsche Bank says private banking is one of the Group’s most successful growth areas and Geneva is now the hub of the bank’s expansion into offshore banking.

Geneva – world capital of private banking

Effectively, Geneva is the birthplace and the capital of the world’s private banking industry. The dynamism and influence of Geneva as a financial centre is reflected in the density and diversity of the financial institutions present in the city which offers an exceptionally developed financial infrastructure to support Geneva-based corporations in their global activities. Building on its centuries' old banking expertise, Geneva offers all the services that private, corporate and institutional clients may need covering international law, accountancy, auditing, consultancy, insurance, reinsurance, inspection and arbitration. Geneva was the birthplace of private banking and is the heart of the Swiss asset management sector.

Seventy-five banks (including 49 foreign-owned institutions) are headquartered in Geneva while a further 45 international banks have branches here. Industry specialists estimate that approximately 55% of the 3,000 billion CHF in assets managed in Switzerland are directly or indirectly controlled from Geneva. Another criterion is the volume of Geneva-based fiduciary transactions and assets under management. According to a recent study, foreign and Swiss banks based in Geneva account for 30% of the overall volume of fiduciary transactions in Switzerland. Private and institutional assets managed by banks operating in Geneva can be estimated at CHF 1,200 billion. Since Switzerland manages some 35% of global transnational assets, it can be estimated that about 14% of these are managed in Geneva, thus making Geneva the world capital of asset management.

Visit:

‘Geneva - Business-friendly environment for optimum financial growth’: Link

Geneva financial centre:Link