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. Zürcher Kantonalbank is the 5th largest bank in Switzerland in terms of total assets. In 2015 its total assets were 152,85 bln CHF, providing the bank with the market share of 5.06%. Zürcher Kantonalbank is the 1st largest cantonal bank in Switzerland (out of 24 banks) having market share of 28.44% amongst the banks of this category.
Zürcher Kantonalbank is rated by Fitch, Moody's, Standard & Poor'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). Long-term credit rating assigned to the bank by Standard & Poor's is AAA (extremely strong capacity to meet its financial commitments).
Zürcher Kantonalbank is headquartered in Zürich.
|Address||8010, Zürich, Switzerland|
|Phone||044 293 93 93|
|Bank Category||Cantonal banks|
|Business Focus||universal banking for natural persons and legal entities residing in the canton|
|Area Served||mainly the canton|
|Total Assets (2015)||152.85 bln CHF (-2.33%)|
|Profit and Loss|
|Annual Profit (2015)||722.27 mln CHF (+11.55%)|
|Market Position and Market Share (among banks in Switzerland)|
|Total Assets (2015)||5th (market share 5.06%)|
|Number of Employees (2015)||5 179 (+6.92%)|
|Credit Ratings (as of Apr 2016)|
|Fitch||AAA (highest credit quality)|
|S&P's||AAA (extremely strong capacity to meet its financial commitments)|
|Deposit Guarantee||Yes (up to 100 000 CHF per depositor)|
|Branches (2015)||91 (-6.19%)|
|European Presence||2 banks in 2 countries|
In 2015 total assets of Zürcher Kantonalbank were 152.85 bln CHF. Decline compared to the previous period (2014) was -2.33%. The evolution of the total assets of Zürcher Kantonalbank is shown at Chart 1 below.
Recent changes in total assets of Zürcher Kantonalbank and its main components are shown in Table 1.
|Cash and deposits with Central Banks||27.1||32.5||+20.07%|
|Claims to banks||14.0||15.0||+6.60%|
|Claims to customers||7.5||7.7||+2.54%|
|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||28.9||34.8||+20.39%|
|Amount owed to customers||80.0||80.8||+1.07%|
|Table 2. Recent changes in total liabilities of Zürcher Kantonalbank (bln CHF).|
Recent changes in gross profit of Zürcher Kantonalbank and its main components are shown in Table 3.
|Net Interest Income||1 126.9||1 161.9||+3.11%|
|Net Commission Income||526.1||663.5||+26.12%|
|Net Income from Trading Operations||233.1||327.6||+40.54%|
|Table 3. Recent changes in gross profit of Zürcher Kantonalbank (mln CHF).|
In 2015 annual profit of Zürcher Kantonalbank was 722.27 mln CHF. Growth compared to the previous period (2014) was 11.55%. The evolution of the annual profit of Zürcher Kantonalbank is shown at Chart 2 below.
Credit Rating is an opinion of a credit rating agency about credit worthiness of a company or a government.Of the 'Big Three' rating agencies, Zürcher Kantonalbank is rated by Fitch and Standard & Poor's.
Credit ratings assigned to Zürcher Kantonalbank as of April 2016 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). Bank financial strength rating is a2. Short-term rating is not assigned.
|Long-Term Bank Deposit Rating||Aaa|
|Bank Financial Strength Rating||a2|
Outlook for the ratings of Zürcher Kantonalbank is set to stable (not likely to change).
Long-term foreign currency rating for Zürcher Kantonalbank is set to AAA (extremely strong capacity to meet its financial commitments). Long-term local currency rating is set to AAA (extremely strong capacity to meet its financial commitments).
|Long-Term Foreign Currency Rating||AAA|
|Outlook||negative (may be lowered)|
|Long-Term Local Currency Rating||AAA|
|Outlook||negative (may be lowered)|
|Short-Term Foreign Currency Rating||A-1+|
|Short-Term Local Currency Rating||A-1+|
Short-term foreign currency rating for Zürcher Kantonalbank is set to A-1+ (strong capacity to meet its financial commitments). Short-term local currency rating is set to A-1+ (strong capacity to meet its financial commitments).
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|
Further Information: Deposit Guarantee Scheme in Switzerland
Any bank can be identified for different purposes and hence can have several different identifiers.
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.