Zurich Cantonal Bank
Origin of Zurich Cantonal Bank
Zurich Cantonal Bank was established in 1870 with the purpose of providing service to people and corporations in the canton of Zurich. Zurich Cantonal Bank is the largest cantonal bank in Switzerland and one of the largest Swiss banks. The bank has a market penetrations rate of about 50 % in the canton of Zurich and is, therefore, the largest bank in the canton.
In March 2015 ZKB acquired Swisscanto and is now the third largest fund provider in Switzerland. Zurich Cantonal Bank is an autonomous public-law institution and benefits from a state guarantee. Under the umbrella of the ZKB Group are Swisscanto, Zürhcer Kantonalbank Austria, Züricher Kantonalbank, Guernsey and representative offices in Sao Paulo, Beijing, Mumbai, and Singapore.
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Philosophy and Strategy
Zurich Cantonal Bank is a full-service bank with regional character but also serves clients nationwide and internationally. The public service mandate entails ZKB to provide financial service for the businesses and public and be part of life in the canton of Zurich. The broadly diversified business model has a substantial impact on ZKB’s income.
The vision of ZKB is to be the no. 1 in the canton of Zurich, a national leader and internationally successful. The bank is developing comprehensive services to fulfill the client’s needs. At every stage of the client’s life and in all business phases, ZKB provides competent and dependable assistance. The values of ZKB are responsible, competent and personal. The heart of everything ZKB is doing is sustainability, and their brand promise is “close to you.”
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Services and Solutions
Züricher Kantonalbank serves retail and corporate clients. The bank offers a broad line of banking products and services from financing to investment and pensions business and from payment transactions to capital market and trading business. These services make the bank unique in the Greater Zurich Area. Concerning loans, ZKB is the market leader in the Canton of Zurich. ZKB provides loans to foreign banks in connection with Swiss exports.
The bank is also selectively involved in the commodity trade finance business. The new advisory model offers a comprehensive range of asset management services, all from a single source. It provides cutting-edge technology. ZKB offers high-quality, innovative products. Around half of the small and medium companies in the Canton Zurich rely on the services of ZKB. The private banking business provides investment services to define the right strategy, financing services, especially in connection with real estate and competent financial advice.
The Board of Directors is responsible for the risk policy and appraises the risks on a regular basis. The risk management of ZKB has the following principles: Risk culture, separation of functions, risk monitoring and identification, transparency and risk and return. The bank avoids a concentration of risks, and they only engage in risks, which can be monitored and measured. The risk the bank gets involved is the credit risk, including the counterparty risk, the settlement risk, and the country risk. The market risk, including the interest rate risk, the market liquidity risk, and the issuer default risk. The liquidity risk, the operational risk, the compliance risk, the strategic risk, the business risk and the reputational risk.
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Zurich Cantonal Bank is the only Swiss bank and the only full-service bank in the world with an AAA rating by S&P, Fitch and Moody’s. ZKB’s clients are conduction a significant part of their business through support centers, eBanking mobile, and eBanking services. Out of the 782 mm CHF in profit, the canton of Zurich will get a dividend of 363 mm CHF. ZKB is a member of “F10 FinTech Incubator and Accelerator,” and this enables the bank to provide start-ups with professional guidance.
A newly added value service is that the client advisors are available by appointment daily from 7 am to 8 pm. ZKB is offering TWINT the smartphone app for making mobile payments. The client advisors started using tablets while consulting clients and this helps them to show complex issues in a clear and accessible way.
Nearly 45 % of Zurich resident have an account with ZKB. The equity and bond research team of Zurich Cantonal Bank enjoys an excellent reputation. The unit analyzes more Swiss securities than any other bank. The sponsorship fund of ZKB is divided into 34% for society, like culture, sport, health, 24% for the environment, 15% for business and 27% for local sponsorship.
Zurich Cantonal Bank – Facts & Figures
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|Address||Bahnhofstrasse 9, 8001 Zürich|
|Phone||+41 844 843 823|
|Year of foundation||1870|
|No. of employees||5’145|
|Rating||Fitch AAA / Moody’s Aaa / S&P AAA|
|Chairman||Dr Jörg Müller-Ganz|
|Eligible Regulatory Capital||13.25 bn CHF|
|Tier 1 Ratio||17.00 %|
|Leverage Exposure||212.425 bn CHF|
|Leverage Ratio||6.20 %|
|Liquidity Coverage Ratio||160 %|
|Risk Weighted Assets||71.55 bn CHF|
|Loans outstanding||91.847 bn CHF|
|Assets under Management||409.190 bn CHF|
|Assets under Management / Employees||79.531 m CHF|
|Net profit||942 m CHF|
|Net Profit / Employees||183’090 CHF|
|Cost / Income Cost Ratio (CIR)||58.70 %|
|Return on Equity||7.80 %|
|Own structured products||Yes|
|Presence abroad||Guernsey, Austria, Sao Paulo, Beijing, Mumbai, Singapore|
Source: Annual Report 2021
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