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Swiss Bankers Association Survey 2004 - Swiss banks improve their image - Continued strong support for financial privacy
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Basel, 25 February 2004 – The Swiss banking sector enjoys a good reputation in
Switzerland. 53% of those questioned in the 2004 survey say they have a
“positive” or “very positive” opinion of the banks (2003: 49%).
The banks are perceived to be trustworthy and reliable and once again banking is
recognised to be the most important branch of the Swiss economy. At the same time the
number of Swiss personally satisfied with their own bank remains consistently high. As in
last year’s survey an overwhelming majority (76%) of Swiss are in favour of
maintaining bank client confidentiality. These are some of the findings of the Swiss
Bankers Association’s annual survey carried out by MIS-Trend of Lausanne.
For several years now the Swiss Bankers Association has been conducting annual surveys
amongst Swiss citizens to find out about their relationship with the banking industry and
their views about the overall significance of banks for the Swiss economy. This
year’s questions were virtually the same as last year’s and this continuity
allows the best possible comparison of results and permits any trends to be reliably
identified.
Banks: a pillar of the Swiss economy
The 2004 survey shows that respondents estimate the contribution made by banks to the
economy as a whole higher than was shown in last year’s survey. 63% of those
questioned consider banking to be the most important branch of the Swiss economy (2003:
60%). Furthermore, 80% agree that the Swiss financial centre enjoys a good professional
reputation abroad (2003: 77%). 80% – the same figure as last year – consider
the banks to be important employers in Switzerland. 75% agree that banks make an important
contribution to Switzerland’s tax revenues.
The banking sector’s reputation at home has improved in comparison with a year ago.
53% say they have a “positive“ or “very positive“ opinion of the
banks (2003: 49%). And the level of personal satisfaction with one’s main bank
– the bank with which most business is conducted – remains consistently high.
About 79% say they have a “positive” or “very positive“ opinion of
their main bank. As in previous years the survey reveals that the strengths of the Swiss
financial centre are considered to lie in its trustworthiness (66%) and security (67%) as
well as in the competence of its workforce (63%). Once again, however, respondents say
banks could improve their commitment to and support of small- and medium-sized enterprises
(SMEs). 58% said banks do too little for SMEs (2003: 65%).
The 2004 survey again reveals certain contradictions in the views of respondents. On the
one hand the majority (76%) are concerned that banks should support SMEs that are in
financial trouble. On the other hand, 63% fully agree that banks should keep risks within
limits when managing funds deposited by customers. Many respondents agree with the
argument that supporting enterprises in financial trouble could prolong undesirable
business structures. Over half (56%) fully agree that this is not a sensible policy.
The Swiss support financial privacy
The 2004 survey once again clearly shows that the Swiss attach great importance to the
protection of their financial data. An overwhelming majority of 88% believe that
protecting the confidentiality of financial data vis-à-vis third parties is
correct. Specifically asked about bank client confidentiality, 76% say they are in favour
of maintaining it. This figure is fractionally lower than that of 2003 and may be
explained by the fact that there has been less public discussion of the topic during the
period in question. The same reason may account for the fact that only 73% (2003: 80%) say
that international pressure will influence bank client confidentiality over the next few
years. 68% (2003: 59%) believe it probable that bank client confidentiality will still
exist in its present form in five years’ time. The 2004 survey once again clearly
demonstrates that bank client confidentiality enjoys strong support amongst the Swiss.
Note to journalists:
The survey involved 1,002 Swiss citizens and the margin of error is + / - 3.1%. The survey
was partly carried out in December 2003 (30%) and in January 2004. The results will also
be presented at today’s press conference in Zurich.
Survey 2004 (PDF German / PDF French)
| Contacts |
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| Thomas Sutter |
James Nason |
| Head of Communications Switzerland |
Head of International Communications |
Swiss Bankers Association,
Basel |
Swiss Bankers Association,
Basel |
| Tel. +41 61 295 92 06 |
Tel. +41 61 295 92 15 |
| Fax +41 61 272 53 82 |
Fax +41 61 272 53 82 |
 www.swissbanking.org |
www.swissbanking.org |
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