Zürcher Kantonalbank (ZKB), Founded In 1870, Is A Universal Bank That Provides Banking Products, Such As Savings And Mortgages, To Individuals And Institutions In The Zurich Area.
In 2017, Zürcher Kantonalbank's Total Assets Reached 162.71 Billion Swiss Francs, Ranking Sixth In The Swiss Banking Industry. Global Finance Magazine Ranked Zurich As The Second Safest Bank In The World. The Three Rating Agencies S & P, Fitch And Moody's Certified The Bank As AAA/Aaa Financial Institution Group.
The Cantonal Bank Of Zurich, Although An Independent Legal Entity, Is Wholly Owned By The Cantonal Government Of Zurich And Supervised By The Cantonal Council Of Zurich. It Is Subject To The Zurich Cantonal Bank Act And Is Fully Guaranteed By The State. According To The Law, The Cantonal Government Of Zurich Is Obligated To Repay All Creditors Of The Cantonal Bank Of Zurich. The Advantage Of This State Guarantee Is That It Provides Stability For Financial Marekts, Especially In Times Of Economic Turmoil.
History
The Cantonal Bank Of Zurich Was Opened On February 15, 1870, At The Initiative Of Johann Jakob Keller, A Member Of The Cantonal Assembly Of Zurich. It Is The "Bank Of The People Of Zurich", Which Means That The Canton Of Zurich Provides Funds, Guarantees Bank Debts In The Name Of The State, And Appoints The Highest Governing Body. Its Public Execution Tasks And Social And Political Responsibilities Are Written Into Zurich State Law
In August 2018, A Seven-year Dispute Between The Cantonal Bank Of Zurich And The United States Over Tax Evasion By American Customers Ended With The Payment Of Up To $98,500 Million By The Cantonal Bank Of Zurich To The United States.
The Cantonal Bank Of Zurich Is The Bank With The Largest Distribution Of Branches In The Canton Of Zurich, With 103 Branches.
At The End Of 2018, ZKB Had Three Branches, Namely:
- Swisscanto: Its Investment And Wealth Management Products Are Available In Switzerland, Liechtenstein, Austria And Luxembourg.
- ZKB Austria: Since February 1, 2010, It Has Been Fully Owned By ZKB. Its Headquarters Are Located In Salzburg, With A Branch In Vienna.
- ZKB Finance (Guernsey)
In Addition, ZKB Has Offices In Beijing, China, Mumbai, India, Singapore, Panama And Sao Paulo, Brazil
