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Raiffeisen pulls out of Swiss Bankers Association

The Swiss Bankers Association said it regretted Raiffeisen’s decision Keystone

Raiffeisen, Switzerland’s third-largest banking group, says it will leave the Swiss Bankers Association (SBA) at the end of March 2021. It intends to represent its interests independently.

“The banking sector and the interests of the various players in the Swiss financial centre have changed considerably in recent years,” Raiffeisen said in a statement on Tuesday. “As part of its group strategy, Raiffeisen has therefore critically reviewed its role in helping to shape the political framework.”

The banking group said it would in future express its own views on legislative and supervisory issues.

“Irrespective of this decision, Raiffeisen remains committed to a strong Swiss financial centre and is interested in a consensual relationship with all relevant players,” it said.

Regret

The Swiss Bankers Association said it regretted Raiffeisen’s decision but remained open to the membership of Raiffeisen banks and their employees in future.

There has been talk for a while about differences between the various banking groups in the SBA. For some years domestically oriented banks have been making separate statements on political issues via the Coordination of Domestic Banks. This includes Migros Bank, Raiffeisen Cooperative, the Association of Swiss Cantonal Banks and the Association of Swiss Regional Banks.

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