Zürcher Kantonalbank

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.

Contacts 
    Address  8010, Zürich, Switzerland
    Phone  044 293 93 93
    Website  http://www.zkb.ch
    E-Mail  serviceline@zkb.ch
Bank Category  Cantonal banks
Business Description 
    Business Focus  universal banking for natural persons and legal entities residing in the canton
    Services  retail banking
corporate banking
    Products  savings products
mortgage loans
    Area Served  mainly the canton
Start Date  1870
Financial Positions
    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)
    Moody's  Aaa (prime)
    S&P's  AAA (extremely strong capacity to meet its financial commitments)
Deposit Guarantee  Yes (up to 100 000 CHF per depositor)
    State Guarantee  full
Bank Identifiers
    BIC (SWIFT)  ZKBKCHZZ80A
    Company Number  CHE-108.954.607
Domestic Presence
    Branches (2015)  91 ↓ (-6.19%)
European Presence  2 banks in 2 countries

Financial Positions

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.

Total Assets of Zürcher Kantonalbank.
Chart 1. Total Assets of Zürcher Kantonalbank.

Recent changes in total assets of Zürcher Kantonalbank and its main components are shown in Table 1.

2014 2015 % change
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% ↑
Mortgages 71.3 73.6 +3.19% ↑
Total Assets 156.5 152.9 -2.33% ↓
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.

2014 2015 % change
Amount owed to banks 28.9 34.8 +20.39% ↑
Amount owed to customers 80.0 80.8 +1.07% ↑
Total Liabilities 156.5 152.9 -2.33% ↓
Table 2. Recent changes in total liabilities of Zürcher Kantonalbank (bln CHF).

Profit and Loss

Recent changes in gross profit of Zürcher Kantonalbank and its main components are shown in Table 3.

2014 2015 % change
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.

Annual Profit of Zürcher Kantonalbank.
Chart 2. Annual Profit of Zürcher Kantonalbank.

Credit Ratings

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.

Fitch

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
    Outlook  stable
    On Watch  No
Short-Term Issuer Default Rating  F1+
Viability Rating  a+
Support Rating  1
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).

Moody's

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 Rating  Aaa
Long-Term Bank Deposit Rating  Aaa
Bank Financial Strength Rating  a2
Short-Term Rating  -
Outlook  stable

Outlook for the ratings of Zürcher Kantonalbank is set to stable (not likely to change).

Standard & Poor's

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)
    Credit Watch  -
Long-Term Local Currency Rating  AAA
    Outlook  negative (may be lowered)
    Credit Watch  -
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

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)
Covered Currencies  all
Maximum Protected Amount  100 000 CHF
Paid In Currency  CHF
State Guarantee  full

Further Information: Deposit Guarantee Scheme in Switzerland

Bank Identifiers

Any bank can be identified for different purposes and hence can have several different identifiers.

BIC

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.

BIC  ZKBKCHZZ80A
Bank BIC Code  ZKBK
Country Code  CH (Switzerland)
Location Code  ZZ
Branch Code  80A

Company Registration Number

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.

Company Number  CHE-108.954.607

European Presence

This bank operates in the following European countries and selected dependent territories of the European countries:

Austria

Switzerland

  •  (this bank) Zürcher Kantonalbank (Zürich)

Related Information on Switzerland

  Economy and Banking Sector of Switzerland

  List of Banks in Switzerland

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