Better prospects for Swiss banking in 2024, says new study

The year could see revitalization of the banking to some extent, finds the study by Swiss Bankers Association:

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Swiss Banking Outlook 2024, a report brought out by Swiss Bankers Association recently, indicates that 2024 will witness an economic growth of 1.2% and an inflation rate of 1.3% for the country. It also suggests that the macroeconomic picture is somewhat more optimistic for 2025, with the consensus forecast showing economic growth of 1.5% and inflation falling slightly to 1.1%.

EMPLOYMENT TRENDS

The report, based on data from the Swiss National Bank and surveys carried out by the Association of member-organizations, has thrown some insights, especially about employment trends in the sector. It shows that there is an increase of 1280 domestic employees in 2023, bringing the total to 93,299 (1.4% increase), is encouraging and employment remained stable through mid2024, with over half of the surveyed banks expected stable employment and about a third even anticipating an increase in headcount during the second half of 2024.