Zeebiz.com
New Delhi, Jul 09: Amid a growing global scrutiny of overseas funds deposited in Swiss banks, the quantum of total foreign assets managed by them has dipped by nearly 300 billion Swiss francs (about Rs 20 trillion) since 2008.
Also, the share of foreign client assets in Swiss banks dropped to 51 percent of their total asset under management at the end of 2011 the lowest in four years.
The foreign clients have traditionally been the mainstay of Swiss banks' wealth management business. But growing pressure from foreign governments for action against possible hoarding of illicit wealth in Switzerland has been acting as a dampener in the recent years.