Indians’ funds in swiss banks down 11% to rs 30k cr on dip in customer deposits
According to the SNB, at the end of the year 2022, the total liability of Swiss banks towards Indian customers was 3424 million Swiss francs. Of this, 394 million Swiss francs were in the form of deposits, while 1100 million francs reached Swiss banks through other banks. In addition, 24 million francs were held by responsible persons or trusts, while 189.6 million francs were held with banks in the form of bonds, securities and other financial instruments on behalf of customers.
Last year, out of the four groups of assets held by Indians with Swiss banks, only the Responsible Persons and Trusts segment saw an increase. All the other three segments- deposits, placed through other banks and bonds and securities segment registered a decline. The total amount held by Indians in Swiss banks was at a record level of 6.5 billion francs in 2006, after which it has more or less declined. During this period only in 2011, 2013, 2017, 2020 and 2021 there was an increase in the amount of Indian customers kept with Swiss banks.
