Zurich Cantonal Bank (ZKB) CEO Urs Baumann expressed confidence in the resilience of the Swiss financial sector after the bankruptcy of Credit Suisse.

Baumann stated at the Finance Forum in Zurich that the financial center can still meet the needs of the Swiss economy. He also highlighted the competition among financial institutions.

Baumann acknowledged that only UBS and ZKB currently meet the requirements of large corporate clients. However, he mentioned that there are many international banks eager to enter the market, which increases competition. Baumann also noted that cantonal banks, with their extensive networks, can offer a range of financial services comparable to those provided by larger institutions like UBS, including loans and the issuance of bonds or shares.

Baumann opposed any significant increase in capital requirements for systemically important banks, including ZKB. He suggested that current regulations should remain stable to support the ongoing competitiveness of the Swiss banking sector.