Wealth Piles Up in Swiss Banks, Bangladeshis' deposits in Swiss banks jump to Tk12,763 crore

Deposits held by Bangladeshi individuals and banks in Swiss banks rose by Tk3,929 crore, or 41.49 percent, over the past year, reaching Tk12,763 crore (834.2 million Swiss francs) in 2025, up from Tk8,834 crore (589.5 million Swiss francs) in 2024.

The increase follows a dramatic rise in 2024, when deposits surged by 3,246 percent from just Tk264 crore in 2023. In 2022, the amount stood at Tk824 crore.

The 2025 total marks the second-highest level on record, nearing the all-time peak of Tk12,996 crore (871.1 million Swiss francs) registered in 2021.

The figures were published in the latest annual report of the Swiss National Bank (SNB), Switzerland's central bank, based on data submitted by Swiss banks. The SNB noted that the statistics do not reflect the actual volume of undeclared or illicit assets allegedly held by Bangladeshis in Switzerland.

Most of the deposits were held by Bangladeshi banks. Funds placed by Bangladeshi banks in Swiss financial institutions climbed 41.49 percent year-on-year to 834.1 million Swiss francs in 2025 from 589.5 million Swiss francs in 2024. As a result, Bangladeshi banks accounted for nearly 98.6 percent of all Bangladesh-linked deposits in Swiss banks, up from 97.8 percent the previous year. By comparison, their share was only 20 percent in 2023 and 35 percent in 2021.

Syed Mahbubur Rahman, managing director of Mutual Trust Bank, said such placements are part of routine banking operations. Banks regularly invest funds across countries and financial institutions based on returns and market opportunities, he said, adding that a higher volume of deposits in Switzerland does not by itself indicate any irregularity.

In contrast, deposits held by Bangladeshi individuals through personal accounts fell by almost 10 percent to 11.4 million Swiss francs in 2025 from 12.6 million Swiss francs a year earlier.

Swiss banks, historically associated with strict secrecy, have in recent years strengthened transparency measures aimed at curbing money laundering and tax evasion.

A key step was the introduction of the Automatic Exchange of Information (AEOI) framework in 2018, which enables tax authorities to exchange information on overseas financial accounts. In 2025, the Swiss Federal Tax Administration shared data on around 3.4 million financial accounts with authorities in 101 countries.

However, according to the latest update from the OECD Global Forum, Bangladesh had not committed to joining the AEOI system as of May 2026, unlike neighbouring India and Pakistan, which already participate in the information-sharing framework.

Within South Asia, India remained the largest holder of Swiss bank deposits in 2025, with 3.2 billion Swiss francs, despite an 8 percent decline from the previous year. Bangladesh ranked second with 834.2 million Swiss francs and was the only major economy in the region to record a substantial increase.

Afghanistan posted the fastest growth rate, with deposits rising 48.2 percent to 4.7 million Swiss francs, although the overall amount remained relatively small.

The regional picture was mixed. Deposits from India, Nepal, Pakistan and Bhutan declined during 2025, while those from Bangladesh, Sri Lanka, Afghanistan and the Maldives increased.

Analysts say the sharp rise in Bangladesh-linked deposits was driven largely by increased placements by Bangladeshi banks. As such, the figures should not automatically be viewed as evidence of black money or illicit wealth. Nevertheless, Bangladesh's absence from international financial information-sharing arrangements continues to limit visibility into the overseas financial assets held by its citizens and institutions.