SGKB Sees Client Growth Amid Anticipated Interest Rate Cuts by SNB

SGKB has seen a significant increase in corporate clients, which is believed to be a result of Credit Suisse's recent bankruptcy.

Many new customers are said to be switching from larger banks. Christian Schmid, in an interview with St.Galler Tagblatt, highlighted the bank's readiness to welcome these clients.

The future of interest rates for SGKB's savings customers depends on the upcoming assessment by the Swiss National Bank (SNB). Schmid suggested that if the SNB chooses to further ease monetary policy, SGKB will likely respond by reducing interest rates.

Capital market interest rates have been declining since the beginning of the year, leading to more affordable mortgages and loans. However, this trend is also putting downward pressure on interest rates for savings, fixed-term, and pension accounts, causing concerns for depositors.

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