Swiss bank

Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB

Singapore`s central bank on Tuesday shut down a second Swiss bank in the city-state and fined banks DBS and UBS in its biggest crackdown on alleged money-laundering activities connected with Malaysian sovereign fund 1MDB.

Oct 11, 2016, 11:30 AM IST

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Jul 02, 2016, 16:11 PM IST

PM reaches Switzerland; likely to raise issue of black money

The Prime Minister is likely to raise the issue of black money stashed by Indians in Swiss banks.

Jun 06, 2016, 10:50 AM IST

Black money: Govt revises disclosure to Rs 4,147 crore from earlier Rs 3,770 crore

He said under the Foreign Account Tax Compliance Act (FATCA), signed with the US, India has already started getting information. "Wealth of information has come from US," he said.

Oct 05, 2015, 12:58 PM IST

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Oct 04, 2015, 20:37 PM IST

New Credit Suisse CEO promises 'ruthlessly selective' review: Report

Newly appointed Credit Suisse AG Chief Executive Tidjane Thiam, in an interview with the Financial Times, promised a "ruthlessly selective" review of the Swiss bank`s businesses, amid expectations that the incoming CEO would cut staff by about 15 percent from its investment banking arm.

Jul 04, 2015, 09:11 AM IST

Swiss bank acts to halt franc rise as investors seek refuge in Greek crisis

Switzerland`s central bank was forced Monday to intervene "in order to stabilise the markets," which have tumbled over Greece`s escalating crisis, the bank`s chief Thomas Jordan said.

Jun 29, 2015, 15:57 PM IST

Black money: Switzerland discloses more requests from India on Masoods

Continuing to shed its famed banking secrecy veil, Switzerland Tuesday made public more names about which it has been approached from abroad for information, even as it published fresh gazette notifications about two Indians -- Sayed Mohammed Masood and Chand Kauser Mohammed Masood.

Jun 02, 2015, 22:45 PM IST

Now, Switzerland to publish list of dormant bank accounts

The Ombudsman further said that a new banking law, which has come into force this year, has mandated that "assets over 500 Swiss franc that have been dormant for 50 years, that is 60 years after the last contact, have to be published.
"If, following this publication, no justified claims are reported, the assets must be liquidated and their net proceeds will be transferred to the Swiss Confederation.

May 31, 2015, 15:53 PM IST

Era of tax haven has come to an end: FM on latest Swiss move

With Switzerland making public names of some Indians with Swiss accounts, Finance Minister Arun Jaitely on Tuesday said the era of tax haven has come to an end and it is no longer safe to keep assets abroad illegally.

May 26, 2015, 20:50 PM IST

Switzerland begins making public list of black money holders, two Indians named

Two Indian women figure among scores of foreign nationals with Swiss bank accounts, whose names have been made public by Switzerland in its official gazette for being probed in their respective countries.

May 25, 2015, 22:21 PM IST

UBS to pay $545 mn over forex scandal, rivals await fate

UBS will pay $545 million to US authorities to end an investigation into alleged manipulation of currency rates, a settlement that will help the Swiss bank to move on after a series of trading scandals.

May 20, 2015, 17:01 PM IST

UBS net profit surges 88% in first quarter

Switzerland`s biggest bank UBS reported Tuesday an 88 percent surge in first quarter profits, despite a strong franc, outstripping analysts` forecasts.

May 05, 2015, 21:05 PM IST

Swiss central bank posts massive loss on soaring franc

The Swiss central bank said Thursday it had posted loss of 30 billion francs in the first quarter due to a jump in the franc`s value which led to huge exchange rate-related losses.

Apr 30, 2015, 17:42 PM IST

Swiss bank BSI fined $211 mn in US tax evasion case

Swiss Bank BSI will pay a $211 million penalty after acknowledging it helped clients create sham identities to evade US taxes, the Justice Department announced Monday.

Mar 30, 2015, 23:53 PM IST

Swiss UBP buys Coutts, `bank of the rich and famous`

Swiss bank UBP announced Friday it would acquire Coutts private bank, which counts Britain`s royal family among its rich and famous customers.

Mar 27, 2015, 14:41 PM IST

UBS targets Asia for wealth management growth: Chief executive

UBS AG, the world`s biggest wealth manager, expects Asia Pacific assets to account for as much as 30 percent of the funds it oversees within the next 10 years, the Swiss bank`s chief executive said.

Mar 26, 2015, 12:51 PM IST

Credit Suisse poaches Prudential's Thiam for top post

Credit Suisse has swooped on Prudential boss Tidjane Thiam to lead the Swiss bank in a push to manage more of the wealth of Asia`s fast growing multi-millionaires` club.

Mar 10, 2015, 23:03 PM IST

Credit Suisse to replace long-standing CEO Dougan

Long-standing Credit Suisse boss Brady Dougan is set to quit as chief executive of the Swiss bank as soon as Tuesday and will be replaced by Prudential head Tidjane Thiam, people familiar with the moves told Reuters.

Mar 10, 2015, 09:38 AM IST

Black money: RBI closely watching probe against HSBC

The Reserve Bank Thursday said it is keeping a close watch on global banking major HSBC, which is facing multi-nation probe including by Indian tax authorities for alleged tax evasion and money laundering at its Swiss units.

Feb 26, 2015, 17:21 PM IST