On October 26, 2015 Financial Market Supervisory Authority (FINMA) initiated bankruptcy proceedings against Bank Hottinger & Cie AG as the bank was at risk of becoming overly indebted.
Bank Hottinger & Cie AG was the 197th largest bank in Switzerland in terms of total assets. In 2014 its total assets were 366,66 mln CHF, providing the bank with the market share of 0.01%. Bank Hottinger & Cie AG was the 28th largest stock exchange bank in Switzerland (out of 47 banks) having market share of 0.18% amongst the banks of this category.
Bank Hottinger & Cie AG participates in deposit guarantee scheme of Switzerland. This scheme covers accounts up to 100 000 CHF per bank per depositor.
Bank Hottinger & Cie AG was headquartered in Zürich.
|Total Assets (2014)|
|366.66 mln CHF (+8.17%)|
In 2014 total assets of Bank Hottinger & Cie AG were 366.66 mln CHF. Growth compared to the previous period (2013) was 8.17%. The evolution of the total assets of Bank Hottinger & Cie AG is shown at Chart 1 below.
Chart 1. Total Assets of Bank Hottinger & Cie AG.
|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 Bank Hottinger & Cie AG 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|
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 Bank Hottinger & Cie AG and its components are shown in the table below.
|Bank BIC Code||HOTT|
|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.