"We were not just surprised but shocked that Switzerland abandoned its neutral status, said one board director who oversees Asian operations at his bank. "I have statisticalevidence that literally hundreds of clients that were looking to open accounts are now not."
According to a banker, clients have raised the issue of sanctions, expressing concern about the safety of their money with us. This topic was particularly prevalent among clients towards the end of last year. Anke Reingen, an analyst at RBC, emphasized the significance of this matter for the Swiss banking industry, which contributes 10 percent to the country's GDP.