Deposits of Indians in Swiss banks fell for the second year in a row, find out how much is the deposit

New Delhi, Thursday 25 June 2020

Last year, in 2019, there was a significant decline in the deposits of Indians in Swiss banks. According to the annual report released by the Swiss Central Bank, Indians had a total deposit of 6625 crore (899 million Swiss francs) in 2019, which is 6% less than in 2018. This is the second consecutive year that the deposits of Indians in the Swiss account have declined.

Decline for the second year in a row

Total deposits in Swiss accounts fell to the third lowest level in three decades due to the decline for the second year in a row. Swiss Bank has been collecting data since 1987.

676 million Swiss francs in 2016

According to the Swiss National Bank (SNB report), at least 723 million Swiss francs were deposited by Indians in 1995 and 676 million Swiss francs in 2016. The third lowest in 2019 is 899 million Swiss francs

45% reduction in total wealth of Pakistanis

According to information received, deposits of Pakistani and Bangladeshi nationals and companies in Swiss banks also declined last year.

There, deposits of people in the US and Britain in Swiss banks have increased. The assets of Pakistanis in Swiss banks have fallen by about 45 per cent to 41 crore Swiss francs (about Rs 3,000 crore).

There, Bangladesh's currency fell 2 per cent to 60.5 crore Swiss francs (about Rs 4,500 crore). S.N.B. At the end of 2019, there were a total of 246 banks in Switzerland.