This was announced by the Association of Foreign Banks in Switzerland (AFBS) in a press release. The AFBS’s 99 member banks, which together employ nearly 17'000 people, aim to provide «strong alternatives to the new superbank.»

«Companies,» the association writes, «face the challenge of finding suitable, competitive offers and conditions in a market with only one globally active Swiss major bank.» finews.com has repeatedly reported on the corporate banking issue.

Natural competitor

Foreign banks see themselves as natural competitors to UBS in the corporate banking business.

AFBS President Adrian Nösberger, who is also CEO of the British bank Schroder in Switzerland, states: «The AFBS and its members are playing an increasingly important role in supporting the Swiss economy.»