Founded in 1870, Zürcher Kantonalbank is a universal bank, providing retail and corporate banking products mainly to the canton residents (natural persons and legal entities). Traditionally for cantonal banks, Zürcher Kantonalbank is especially strong in savings and mortgage products. Like most of the cantonal banks, Zürcher Kantonalbank has full state guarantee of its liabilities.
In 2017 total assets of Zürcher Kantonalbank were 162,71 bln CHF. Zürcher Kantonalbank had 5 179 employees in 2015.
Zürcher Kantonalbank is rated by Fitch, Moody's. Long-term credit rating assigned to the bank by Fitch is AAA (highest credit quality). Long-term credit rating assigned to the bank by Moody's is Aaa (prime).
Zürcher Kantonalbank is headquartered in Zürich.
|universal banking for natural persons and legal entities residing in the canton|
|mainly the canton|
Zürcher Kantonalbank is focused on universal banking for natural persons and legal entities residing in the canton. Zürcher Kantonalbank provides products and services in the areas of retail banking, corporate banking. The range of products offered by Zürcher Kantonalbank includes savings products, mortgage loans.
|Total Assets (2017)|
|162.71 bln CHF (+4.06%)|
In 2017 total assets of Zürcher Kantonalbank were 162.71 bln CHF. Growth compared to the previous period (2016) was 4.06%. The evolution of the total assets of Zürcher Kantonalbank is shown at Chart 1 below.
Chart 1. Total Assets of Zürcher Kantonalbank.
Recent changes in total assets of Zürcher Kantonalbank and its main components are shown in Table 1.
|Cash and deposits with Central Banks||35.3|
|Claims to banks||14.9|
|Claims to customers||7.5|
|Table 1. Recent changes in total assets of Zürcher Kantonalbank (bln CHF).|
Recent changes in total liabilities of Zürcher Kantonalbank and its main components are shown in Table 2.
|Amount owed to banks||34.1|
|Amount owed to customers||80.9|
|Table 2. Recent changes in total liabilities of Zürcher Kantonalbank (bln CHF).|
|Annual Profit (2016)|
|690.61 mln CHF (-4.38%)|
Recent changes in gross profit of Zürcher Kantonalbank and its main components are shown in Table 3.
|Net Interest Income||1 161.9||1 187.1||+2.16%|
|Net Commission Income||663.5||727.6||+9.66%|
|Net Income from Trading Operations||327.6||379.5||+15.84%|
|Table 3. Recent changes in gross profit of Zürcher Kantonalbank (mln CHF).|
In 2016 annual profit of Zürcher Kantonalbank was 690.61 mln CHF. Decline compared to the previous period (2015) was -4.38%. The evolution of the annual profit of Zürcher Kantonalbank is shown at Chart 2 below.
Chart 2. Annual Profit of Zürcher Kantonalbank.
|Number of Employees (2015)|
|5 179 (+6.92%)|
In 2015 there were 5 179 employees of Zürcher Kantonalbank. Growth compared to the previous period (2014) was 6.92%.
|AAA (highest credit quality)||Aaa (prime)|
Credit Rating is an opinion of a credit rating agency about credit worthiness of a company or a government. Zürcher Kantonalbank is rated by Fitch and Moody's.
Credit ratings assigned to Zürcher Kantonalbank as of May 2018 are shown in details in the following sections.
Long-term issuer default rating is Fitch's view of a credit institution's relative vulnerability to default on its financial obligations, for Zürcher Kantonalbank it is set to AAA (highest credit quality), outlook is stable (not likely to change). The rating is not on watch. Short-term issuer default rating for Zürcher Kantonalbank is set to F1+ (highest short-term credit quality).
|Long-Term Issuer Default Rating||AAA|
|Short-Term Issuer Default Rating||F1+|
|Support Rating Floor||WD|
Viability rating for Zürcher Kantonalbank is set to a+ (high fundamental credit quality); support rating is 1 (extremely high probability of external support); support rating floor is WD (withdrawn).
Long-term rating for Zürcher Kantonalbank it is set to Aaa (prime). Long-term bank deposit rating is Aaa (prime). Baseline credit assessment is a2. Short-term rating is not assigned.
|Long-Term Bank Deposit Rating||Aaa|
|Baseline Credit Assessment||a2|
Outlook for the ratings of Zürcher Kantonalbank is set to stable (not likely to change).
|Yes (up to 100 000 CHF per depositor)|
Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.
All credit institutions operating in Switzerland are obliged to participate in Swiss deposit guarantee scheme.
In the case of Zürcher Kantonalbank failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:
|Eligible Depositors||private individuals, commercial enterprises and public-sector offices|
|Covered Accounts||credit balances (e.g. personal accounts, savings accounts, investment accounts, salary accounts, numbered accounts, deposit accounts and current accounts)|
|Maximum Protected Amount||100 000 CHF|
|Paid In Currency||CHF|
BIC (Business Identifier Code, also known as SWIFT code or SWIFT BIC) is a the mostly used international identifier of financial institutions. SWIFT is the registration authority for BICs. BICs are used in financial transactions, client and counterparty data bases, compliance documents and many others.
A BIC consists of eight or eleven characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters).
BIC of Zürcher Kantonalbank and its components are shown in the table below.
|Bank BIC Code||ZKBK|
|Country Code||CH (Switzerland)|
Company Registration Number is a distinctive code issued upon registration of a new company. This code can be used to find data about the company in a national company register.
In 2015 Zürcher Kantonalbank had 91 branches in Switzerland. Decline compared to the previous period (2014) was -6.19%.
Zürcher Kantonalbank operates under the brand name Zurcher Kantonalbank. This banking brand has presence in the following European countries and selected dependent territories of the European countries: