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BANKS EEA

Acquiring a bank

Acquiring a bank is complicated transaction. It involves all the processes of acquisition including receiving financial regulatory approvals.
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  • SWITZERLAND

    Inhabitants - 7,639,961 (July 2011)

    Language - German (official) 63.7%, French (official) 20.4%, Italian (official) 6.5%, Serbo-Croatian 1.5%, Albanian 1.3%, Portuguese 1.2%, Spanish 1.1%, English 1%, Romansch (official) 0.5%, other 2.8%

    Currency - Swiss franc (CHF), floating, exchange rate ~ 0.83 EUR

    Religion-Roman Catholic 41.8%, Protestant 35.3%, Muslim 4.3%, Orthodox 1.8%, other Christian 0.4%, other 1%, unspecified 4.3%, none 11.1%

    Politics - The politics of Switzerland take place under the framework of a multi-party,federal and parliamentary democratic republic, wherein the Federal Council of Switzerland is the head of government. Executive power is exercised by the government and the federal administration and is not concentrated in any one person. Federal legislative power is vested in both the government and the two chambers of the Federal Assembly of Switzerland.

  • Major industries - machinery, chemicals, watches, textiles, precision instruments, tourism, banking and insurance.

    Banks (2010) - 320 banks; 3,442 branches; 108,000 employees; assets – EUR 2,170 trillion; loans – EUR 718.16 billion; deposits – EUR 1,110 trillion.

    Banking regulations – Banking and financial market regulations can be expressed in various legal forms. In Switzerland, the fundamental principles are codified in federal legislation (e.g. in the Banking Law, the Stock Exchange Law, the Law on Financial Market Supervision) while detailed contents are set out in government ordinances (e.g. in the Banking Ordinance and the Stock Exchange Ordinance). In addition, there are ordinances and circulars issued by the Swiss Financial Market Supervisory Authority (FINMA), as well as self-regulatory directives, guidelines and recommendations issued by the financial sector itself, in particular our association. In Switzerland the main organ responsible for the regulation of banks and financial markets is the FINMA, which functions as an independent federal regulatory authority. Under a dualistic supervisory system the FINMA commissions auditing companies to carry out the actual inspection and auditing of the banks. Swiss minimum capital requirements are set significantly above the minimum capital requirements in terms of an international comparison. This is often referred to as the ‘Swiss Finish’, the required amount is 10 million Swiss francs (~ EUR8,3 million).