Tuesday 5 December 2006

Banks In Lugano

Banking legislation in Switzerland is well known in the whole world, because of its banking secret and its profitable way of investing capitals.Lugano is the third financial power in Switzerland; in every corner there is a bank offering private banking services but not only: its secular tradition, with the help of Swiss legislation, has taught bankers to have a deeper relation with customers.




Banks and financial institutions are one of the pillars of swiss economy, also thanks to the swiss franc, that is one of the strongest and more stable currency. Swiss monetary and financial markets are two of the most important in the world, as for example its main bank institutions (UBS and Crédit Suisse).
Swiss banks hold the world leadership in private banking services and asset management for private customers. They manage one third of the world private and institutional capitals invested abroad. More than one third of UBS and Crédit Swiss returns come from private banking sector. In 2004 helvetic banks counted 115.600 full time workers, of which 16.000 employed in foreign branches.




Switzerland also has an important number of private banks (13 in 2003), whose owners are powerful capitalists, who have the control and whole responsibility of all bank's activities. In other words, in case of bankruptcy the whole fortune would get lost.
These banks are now facing hard times, due to strong pressures of other commercial competitors that started offering the same services. Switzerland also numbers a network of bank cooperatives, Raiffeisen Banks, including 537 branches located in small centres. Each branch is self managed: the members have decisional power and share responsibility on the good performance of the branch.

So, if you’ve money to invest, now you know where the best place is…



For more information on Lugano's banks, foreign and national, see the link below:

http://www.lugano-online.ch/i/getrecords.asp?cat=7&sct1=66&ct=1&tt=0&sl=&qry=Search%3A&typ=

4 comments:

Luca Savio said...

This is my self-comment as no one is interested in my topic! Is it so boring?? :-)

Zorana said...

Luca,

Thanks for great photos and information provided on Swiss banks. It is, indeed, curious how many of them you find at almost every corner of the town; for me that was the most striking point when I arrived in Lugano for the first time. And the service they provide is really good.
Not too bad to have an account there.

Tiziana said...

Hi Luca,your article is not boring at all, specially the pictures give exactly the idea of Swiss Bank: a masterpiece of architectural art, an institution that also in its external design catches one's eye! If you have money, you really don't know which one to choose! Tiziana

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