A cantonal bank is one of the 24 institutions brought together in the Association of Swiss Cantonal Banks (ASCB). Together, they remain households' first choice: according to a study by the Lucerne University of Applied Sciences and Arts (HSLU), reported by finews.ch on 26 October 2026, 28% of respondents name a cantonal bank as their main bank, ahead of Raiffeisen (25%), PostFinance (19%) and UBS (17%).
This survey serves here as a dated example. It was conducted online from 29 May to 11 June 2026 by the Bilendi institute, among 2,016 people aged 16 to 89. It makes it possible to position the cantonal banks against UBS, Raiffeisen and PostFinance, among the country's some 230 banks. Other topics in the sector are gathered in the Banks and FINMA section.
What is a cantonal bank?
A cantonal bank is attached to a canton. Basler Kantonalbank, in Basel, and Zürcher Kantonalbank are two examples. The 24 cantonal banks are grouped together in the ASCB, which takes positions on their behalf on draft legislation.
The association held its 119th general meeting on 28 May 2026, in Basel. Bruno Thürig was re-elected as chairman. Urs Baumann, CEO of Zürcher Kantonalbank, is its vice-chairman.
Their core business remains retail banking. The ASCB attributes their results to this activity, to commissions and to services. They also grant mortgage loans, a subject on which the ASCB defends access to home ownership.
How much do the Swiss cantonal banks weigh?
The Swiss cantonal banks generate profits of several billion francs a year. In 2025, the 24 institutions achieved a combined annual profit of 4.3 billion francs. The ASCB stresses that this result was achieved despite falling interest rates.
The growth continues in 2026. In the first half of the year, their combined operating income rose by 5.0%, to 6.1 billion francs. Operating profit increased by 10.1%. The combined half-year profit reached 2.3 billion francs, up 5.3% year on year.
These figures are observations over six months, not a forecast for the year. The second half may differ from the first, and the 2026 annual profit is not yet known.
Key figures
- 24 cantonal banks, brought together in the ASCB.
- 28% of respondents in 2026 name a cantonal bank as their main bank, compared with around 26% two years earlier.
- 30% in French-speaking Switzerland, only 10% in Ticino.
- 4.3 billion francs in combined profit in 2025.
- 2.3 billion francs in profit in the first half of 2026, 5.3% more than a year earlier.
Who chooses a cantonal bank as their main bank?
The cantonal bank is the most frequently named main bank in Switzerland, and its share is growing. It rose from around 26% to 28% of respondents in two years. With Raiffeisen, PostFinance and UBS, these four groups account for 89% of main banking relationships.
| Main bank named | Share in 2026 | Two years earlier |
|---|---|---|
| Cantonal banks | 28% | around 26% |
| Raiffeisen | 25% | not published |
| PostFinance | 19% | not published |
| UBS | 17% | around 20% with Credit Suisse |
| Other banks (regional banks, savings banks, Migros Bank, Bank Cler) | around 9% | not published |
| Digital banks (Revolut, Yuh, Neon…) | just over 2.4% | 1.8% |
Its customer base varies little by age. The cantonal banks obtain between 27 and 30% in all age groups. Women choose them as their main bank slightly more often than men.
Geography, on the other hand, makes for large gaps. In French-speaking Switzerland, the cantonal banks reach 30%. In Ticino, they fall to 10%, far behind Raiffeisen (33%) and UBS (20%).
How does it differ from UBS or Raiffeisen?
The difference shows first in the customer base. UBS mainly attracts wealthy households. Around one in three people with assets of more than 500,000 francs name it as their main bank. Among households earning more than 9,000 francs a month, its share reaches 23%.
Raiffeisen appeals more to young adults. It obtains around 27% among 16 to 29-year-olds and 28% among 30 to 45-year-olds, compared with around 21% among older people. The cantonal bank, for its part, does not depend on any particular age group.
UBS has been losing ground since its takeover of Credit Suisse in 2023. Its main-bank share is 17%, compared with around 20% for UBS and Credit Suisse combined two years earlier. The ranking between the cantonal banks and Raiffeisen should be read with caution: the national gap is only three points, and Raiffeisen dominates in Ticino.
The difference also lies in regulation. The "too big to fail" rules target systemically important banks such as UBS. In September 2026, the upper house backed 90% coverage of its foreign subsidiaries with the highest-quality capital. This debate even extends to jobs, as shown by a UBS departure measured in jobs: the bank has 34,000 positions in Switzerland. According to the Wall Street Journal, UBS is even said to be studying plans to leave Switzerland, a report on which the bank has not commented.
The cantonal banks read this issue differently. For the ASCB, the package of measures on banking stability goes much too far. On 28 September 2026, it argued that the Federal Council's proposal misses its objective. In its view, the crisis of a single bank does not justify tightening the rules for the whole sector.
Deposit protection and liquidity: what do the cantonal banks defend?
On customer protection, the ASCB defends the status quo. It considers that the current deposit protection system has proven itself and rejects any adjustment. On 12 August 2026, the Federal Council opened a consultation on the Banking Act and the Liquidity Ordinance.
On liquidity, the cantonal banks support simpler rules. A programme of the Swiss National Bank (SNB) allows small and medium-sized banks to obtain liquidity, subject to conditions. In October 2025, the ASCB welcomed a parliamentary initiative by National Councillor Andreas Meier. It calls for clear rules on the transfer of collateral to the SNB.
Supervision, for its part, is the responsibility of the Swiss Financial Market Supervisory Authority (FINMA). Its mandate is first and foremost the protection of creditors, investors and policyholders, as our article on FINMA and the Swiss financial centre points out.
What it changes for a saver or a homeowner
The first issue concerns mortgage loans. According to FINMA, Swiss banks grant mortgage loans too laxly. The ASCB disputes this finding, saying there is no evidence for it. It considers that the current affordability criteria strike a balance between security and access to home ownership.
The two readings are therefore at odds. The authority wants to call the current self-regulation into question. The cantonal banks consider a general tightening unjustified, since FINMA can already intervene on a case-by-case basis.
The second issue concerns the banking relationship itself. Digital banks are gaining ground but remain a complement. They reach 4% among 30 to 45-year-olds, and only 1% among baby boomers. The cantonal banks also reach out to the youngest: they support the MoneyHaxx association, whose budget bot helps young adults draw up their first budget.
What we don't know yet
- The fate of the banking bill put out for consultation on 12 August 2026, and how much weight the ASCB's criticism will carry in it.
- The position of the second chamber of Parliament on UBS's capital, and the date on which the new rules will come into force.
- The cantonal banks' 2026 annual profit, which cannot be inferred from the first half of the year.
