Overview

• Swiss National Bank data show total Indian client liabilities in Swiss banks climbed to CHF 3.54 billion in 2024, up from CHF 1.04 billion a year earlier.
• Holdings through local bank branches and other financial institutions saw the steepest increase and accounted for the majority of the surge.
• Money in individual customer accounts rose by only 11 percent to CHF 346 million, representing about one-tenth of total liabilities.
• India advanced to 48th place globally for client funds in Swiss banks, up from 67th in 2023.
• These figures reflect declared liabilities under an automatic tax information exchange with India since 2018 and exclude any unreported assets.