This is where the withdrawn CS customer funds flowed – and these are the beneficiaries
Current statistics from the National Bank show that a large part of the withdrawn CS customer money deposits flowed abroad. In Germany, one banking group in particular benefited.
The Swiss prefer to bring their CS funds to state banks. However, many foreigners have learned to avoid Switzerland.
Image: Sigi Tischler / Keystone
Julius Baer shareholders had long faces on Tuesday. The course of business in the first four months of the current year made it clear that, contrary to the expectations of many investors, the Zurich asset management bank was able to benefit little or not at all from the Credit Suisse crisis. Julius Baer recorded an inflow of customer deposits of just CHF 3.5 billion compared to the end of 2022. That is an increase of only 1 percent.
