Private Bank : A Private Banking Services And A Legal Form Of Partnership

960 WordsNov 30, 20164 Pages
The term Private Bank refers to a bank that offers private banking services and a legal form of partnership. The First private banks started in St. Gallen region of Switzerland in the mid- 18th century and in Geneva in the late 18th century as partnerships. Some famous families in the Private banking area in Switzerland are Hottinger and Mirabaud, which started the Private Banks in the mid-18th. Historically in Switzerland a minimum of CHF 1 million was required to open an account, however, over the last years many private banks have lowered their entry hurdles to CHF 250,000 for private investors. Private Banks are subject to unlimited subsidiary liability with their personal assets, insofar as the institution does not operate as a public limited company. It it’s constituted of 7 banks. And it’s one of the most important parts of the banking system in Switzerland. Regional and saving banks: This group of banks concentrate on the traditional interest business, with mortgage loans and loans to business on one side customer funds are form of the savings and investments on the other the deposits are lending to generate profits maintain the require reverse requirements. They are similar to cantonal banks with their operations being small and within a geographical field of business. They can provide very personalized customer service because of their localized business activities. Most regional banks have preserved their local character and are still today organized as member own
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