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Indian money in Swiss banks triples, customer deposits rise only 11%
Financial Express Kochi
|June 20, 2025
INDIAN MONEY PARKED in Swiss banks more than tripled in 2024 to 3.5 billion Swiss francs (nearly ₹37,600 crore) on the back of a huge jump in funds held through local branches and other financial institutions, annual data released by Switzerland's central bank showed on Thursday.
However, money in customer accounts of Indian clients rose by only 11% in the year to 346 million Swiss francs (nearly ₹3,675 crore) and accounted for just about one-tenth of overall funds.
The sharp increase in the overall funds follows a 70% decline in funds parked by Indian individuals and firms in Swiss banks, including through local branches and other financial institutions, in 2023 to a four-year low of 1.04 billion Swiss francs.
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