FAISAL PRIVATE BANK (Switzerland) SA

Faisal Private Bank was converted into a family office. The family office manages investments for a single family, with the capital of the firm based upon that family's own cash. The conversion was aimed to protect clients' and shareholders' interests and allow parent firm Ithmaar Bank to focus on its core retail and commercial business.

Bank Category
Foreign-controlled banks

FAISAL PRIVATE BANK (Switzerland) SA participates in deposit guarantee scheme of Switzerland. This scheme covers accounts up to 100 000 CHF per bank per depositor.

FAISAL PRIVATE BANK (Switzerland) SA was headquartered in Genève.

Address
Genève, Switzerland
Founded
1980
Closed
2013

Deposit Guarantee

Deposit Guarantee
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 FAISAL PRIVATE BANK (Switzerland) SA 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

Further Information