...Traditionally always one of the most important domestic industries, the Swiss banking sector has grown in importance in the last decade, with direct wealth creation amounting to CHF##bn or ##.#% of the Swiss GDP in #### and banking sector assets accounting for nearly ## times the annual Swiss GDP which ranks Switzerland fifth globally in terms of overall bank assets. Given the relatively small and mature domestic market, most of this improvement in both performance and asset size can be attributed to the increased international activity of the two big Swiss banks, UBS AG (UBS; rated AA\## / Negative Outlook ) and Credit Suisse (CS; AA\## / Stable Outlook ) which together accounted for ##% of net profits and ##% of banking asse ts (including their in ternational operations) at end\######. The sub\##prime crisis in H### negatively affected the two large Swiss banks, notably UBS. In ####, sub\##prime\##related wr ite\##downs totalling USD##.#bn...

Report Type: Banking System & Prudential Regulations
Free Sample: Click Here to Download

Enter the keyword(s) which you would like to search for within this document and click "Search"

 

 Fitch Research
Fitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.