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Swiss retail banks earn highest profit per customer

© Keystone / Walter Bieri

Swiss retail banks make the most profit per customer among wealthy nations, according to an international ranking.

The Swiss banks are followed at a respectable distance by their Australian and Belgian competitors, according to a study by consulting firm Pricewaterhouse Coopers (PwC) published on Wednesday.

According to the study, Swiss retail banks will have earned an average of CHF546 ($559) per customer by 2021, compared with CHF299 for Australian banks, CHF290 for Belgian banks and CHF283 francs for their Scandinavian competitors. At the bottom of the 12-country Retail Banking Monitor 2022 ranking are the United States (CHF154 per customer) and Britain (CHF140).

Switzerland is not only the country with the highest profit per customer, but also the country with the highest increase in profit per customer, according to the study. In 2020, Swiss banks earned CHF 480 per customer. The increase of 12% was the best on record. However, this increase was also helped by a favourable exchange rate between the Swiss franc and the euro.

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