Bangladeshi deposits in Swiss banks surge 41%

Money parked by Bangladeshi nationals and banks in Swiss banks soared 41% in 2025 to 834.2 million Swiss francs (CHF) (about Tk12,763 crore), reaching the second-highest level on record.

According to annual data released by Switzerland's central bank today (18 June), the aggregate funds of Bangladeshi clients in Swiss banks now stand just below the all-time peak of CHF 871.1 million in 2021, show Swiss National Bank (SNB) annual banking statistics.

The surge is largely dominated by a 43% increase in deposits from Bangladeshi banks, which rose to CHF 822.7 million in 2025 from CHF 576.6 million a year earlier.

Syed Mahbubur Rahman, managing director of Mutual Trust Bank, said the amount held by Bangladeshi banks in Switzerland reflects basic banking operations rather than illicit wealth.

"Banks regularly place funds in different countries and financial institutions depending on where they can earn the best returns", he added.

Banks held 98.6% of the total Bangladeshi deposits at Swiss banks in 2025, up marginally from 97.8% in 2024 but sharply higher than 20% in 2023 and 35% in 2021.

Addressing this shift, he noted that such movements are not unusual as banks frequently reallocate funds across jurisdictions based on returns and investment opportunities.

"The destination of these funds can vary over time as banks move money between different countries based on investment opportunities and prevailing returns. As a result, a larger amount being held in Switzerland in a particular year does not necessarily indicate anything out of the ordinary," he added.

In contrast, deposits held through individual customer accounts fell nearly 10% to CHF 11.4 million in 2025 from CHF 12.6 million in the previous year.

However, these are official figures reported by banks to the SNB and do not indicate the quantum of the much-debated black money allegedly held by Bangladeshis in Switzerland.

Deposits held by Indian nationals and banks lead South Asia in Swiss banks' deposits at CHF 3.2 billion in 2025, although their holdings fell 8% from the previous year.

Bangladesh ranked second at CHF 834.2 million – and unlike India, it grew, posting a 41% jump.

Meanwhile, Afghanistan registered the fastest growth in percentage terms at 48.2%, though its total remains marginal at CHF 4.7 million.

Overall, the region shows a mixed pattern. While four South Asian countries pulled money out of Swiss banks in 2025 – India, Nepal, Pakistan, and Bhutan and four others – Bangladesh, Sri Lanka, Afghanistan, and the Maldives saw rise.