Indian Funds in Swiss Banks Decrease by 8% to Rs 36,793 Crore in 2025, While Customer Deposits Surge by 50%
Funds linked to Indian clients in Swiss banks fell by over 8% in 2025, totaling 3.25 billion Swiss francs (approximately Rs 36,793 crore), according to data released by the Swiss National Bank (SNB) on Thursday. This decline was primarily driven by a reduction in assets held through other banks and financial institutions, which continue to represent the largest share of Indian-linked assets in Switzerland.
Despite the overall decrease, direct deposits in customer accounts surged more than 50% during the year, reaching 524 million Swiss francs (around Rs 6,000 crore). However, these deposits accounted for only about 16% of the total amount. The SNB reported that funds held through banks and financial institutions dropped nearly 15% to approximately 2.6 billion Swiss francs. Additionally, assets managed through fiduciaries and trusts fell by 55% to 18.6 million Swiss francs, while other liabilities, including bonds and securities, decreased to 105.7 million Swiss francs.
The latest figures follow a significant rebound in 2024, when Indian-linked funds in Swiss banks had surged threefold to 3.5 billion Swiss francs, the highest level since 2021. This increase was largely attributed to a rise in funds routed through local branches and other financial institutions. The SNB clarified that these figures represent the total liabilities of Swiss banks towards Indian clients, encompassing deposits from individuals, companies, and banks, as well as non-deposit liabilities. The data also includes funds held through branches of Swiss banks operating in India.
Historically, Indian-linked funds in Swiss banks peaked at nearly 6.5 billion Swiss francs in 2006, followed by a downward trend with occasional increases. Separate data from the Bank for International Settlements (BIS) indicated a different trend, showing a 20% rise in deposits held by Indian individuals in Swiss banks in 2025, amounting to USD 89.73 million (about Rs 780 crore). Swiss authorities have consistently stated that funds held by Indian residents in Swiss banks should not be automatically classified as illicit wealth. Since 2018, Switzerland and India have been exchanging financial account information under a tax transparency framework.
The SNB data also revealed that total funds belonging to foreign clients in Swiss banks declined nearly 8% in 2025, reaching 1.05 trillion Swiss francs. Among countries with the largest amounts in Swiss banks, the United Kingdom led with 192 billion Swiss francs, followed by the United States and France. India improved its ranking to 46th place from 48th the previous year. In contrast, Pakistan’s funds in Swiss banks decreased to 257 million Swiss francs, while Bangladesh saw a sharp 43% increase to 842 million Swiss francs.
Observer Voice is the one stop site for National, International news, Sports, Editor’s Choice, Art/culture contents, Quotes and much more. We also cover historical contents. Historical contents includes World History, Indian History, and what happened today. The website also covers Entertainment across the India and World.
Follow Us on Twitter, Instagram, Facebook, & LinkedIn
