How many cantonal banks does Switzerland have? 24, for 26 cantons, all members of the Association of Swiss Cantonal Banks (ASCB), their umbrella organisation. According to the online encyclopaedia Wikipedia, the cantons of Solothurn and Appenzell Ausserrhoden lost theirs in the mid-1990s. Zürcher Kantonalbank, the cantonal bank of Zurich, heads the list with total assets of 199.8 billion francs in 2022; Urner Kantonalbank, in Uri, closes it with 3.6 billion.
This page answers a single question: which institutions these are, and how big they are. A portrait of the sector, its customers and how it differs from UBS or Raiffeisen can be found on our page on the cantonal bank. Other banking topics are gathered in the banks and FINMA section.
How many cantonal banks are there in Switzerland?
Switzerland has 24 cantonal banks. The ASCB, which represents them on draft legislation, refers on its website to the "24 Cantonal Banks". Wikipedia gives the same number and notes that originally, every canton and half-canton had its own cantonal bank.
Together, they form a heavyweight group. According to Wikipedia, they employ 19,000 people in Switzerland and operate a network of 620 branches. The cantonal bank group holds around 30% of the Swiss banking market, according to the same source.
They also remain the leading bank for households. 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. The share reaches 30% in French-speaking Switzerland, but only 10% in Ticino.
What is the list of the 24 cantonal banks?
The table ranks the 24 institutions by total assets at the end of 2022. This is the last financial year broken down bank by bank in the sources consulted. Wikipedia takes these figures from an ASCB document, "Balance sheets and income statements of the Cantonal Banks as at 31.12.2022".
| Cantonal bank | Canton | Founded | Total assets 2022 (billions of francs) | Consolidated profit 2022 (millions of francs) | State guarantee |
|---|---|---|---|---|---|
| Zürcher Kantonalbank | Zurich | 1870 | 199.8 | 1,058.7 | yes |
| Banque cantonale vaudoise | Vaud | 1845 | 59.4 | 388.3 | no |
| Luzerner Kantonalbank | Lucerne | 1850 | 57 | 226.6 | yes |
| Basler Kantonalbank (Basel Cantonal Bank) | Basel-Stadt | 1899 | 55.2 | 139 | yes |
| St. Galler Kantonalbank | St. Gallen | 1915 | 40.8 | 183.8 | yes |
| Banque cantonale bernoise | Bern | 1834 | 39.8 | 159.6 | no |
| Aargauische Kantonalbank | Aargau | 1913 | 38.1 | 179 | yes |
| Basellandschaftliche Kantonalbank | Basel-Landschaft | 1864 | 34.8 | 130 | yes |
| Thurgauer Kantonalbank | Thurgau | 1871 | 33.3 | 147.8 | yes |
| Graubündner Kantonalbank | Graubünden | 1870 | 33.2 | 207.5 | yes |
| Banque cantonale de Genève | Geneva | 1816 | 30 | 176 | no |
| Banque cantonale de Fribourg | Fribourg | 1892 | 27.3 | 141.1 | yes |
| Schwyzer Kantonalbank | Schwyz | 1890 | 23.6 | 79.9 | yes |
| Banque cantonale du Valais | Valais | 1916 | 19.3 | 72.9 | yes |
| Zuger Kantonalbank | Zug | 1892 | 18.6 | 97.2 | yes |
| Banca dello Stato del Cantone Ticino | Ticino | 1915 | 18.6 | 64.4 | yes |
| Banque cantonale neuchâteloise | Neuchâtel | 1883 | 11.3 | 42.6 | yes |
| Schaffhauser Kantonalbank | Schaffhausen | 1883 | 9.2 | 55.3 | yes |
| Glarner Kantonalbank | Glarus | 1884 | 8.6 | 25.3 | yes |
| Nidwaldner Kantonalbank | Nidwalden | 1879 | 6.2 | 16 | yes |
| Obwaldner Kantonalbank | Obwalden | 1886 | 5.9 | 13.8 | yes |
| Banque cantonale du Jura | Jura | 1979 | 4.3 | 10.2 | yes |
| Appenzeller Kantonalbank | Appenzell Innerrhoden | 1899 | 4.1 | 11.9 | yes |
| Urner Kantonalbank | Uri | 1915 | 3.6 | 17.1 | yes |
According to Wikipedia, the combined total assets of the 24 banks reached 782.4 billion francs in 2022, for a total consolidated profit of 3,644.6 million. The oldest is Banque cantonale de Genève, founded in 1816. The most recent is Banque cantonale du Jura, founded in 1979.
Which cantons have no cantonal bank?
Two cantons no longer have a cantonal bank: Solothurn and Appenzell Ausserrhoden. According to Wikipedia, their banks disappeared in the mid-1990s, following a difficult economic environment and poor management.
In Solothurn, the cantonal bank was absorbed into Swiss Bank Corporation (SBC) on 1 January 1995, after a financial debacle. It re-emerged under the name Solothurner Bank SoBa, a subsidiary of SBC. In 1998, SBC merged with Union Bank of Switzerland. Two years later, the Solothurn bank was sold to Baloise Insurance, which ran it under the name Baloise Bank SoBa, then Baloise Bank.
The cantonal bank of Appenzell Ausserrhoden went through several attempts at restructuring in the 1990s, all of which failed, according to the same source. Its takeover by UBS was decided in 1996. Appenzell Innerrhoden kept its own, Appenzeller Kantonalbank.
Which is the largest cantonal bank?
Zürcher Kantonalbank is by far the largest. With total assets of 199.8 billion francs in 2022, it outweighs the next three combined: Banque cantonale vaudoise, Luzerner Kantonalbank and Basler Kantonalbank total 171.6 billion. It is also the only one to exceed a billion francs in profit, with 1,058.7 million.
Across the banking sector as a whole, four cantonal banks are among the ten largest Swiss banks by assets in 2023. The ranking by the agency ADV Ratings, cited by Wikipedia, places Zürcher Kantonalbank third, behind UBS and Raiffeisen. Banque cantonale vaudoise is sixth, Luzerner Kantonalbank seventh and Basler Kantonalbank ninth.
At the other end, seven cantonal banks report total assets of less than 10 billion francs. The three smallest are Banque cantonale du Jura (4.3 billion), Appenzeller Kantonalbank (4.1 billion) and Urner Kantonalbank (3.6 billion). The gap between the first and the last exceeds a factor of 55.
What is the status of a cantonal bank?
A cantonal bank is defined by its link with its canton. Wikipedia, drawing on the Historical Dictionary of Switzerland, speaks of a "special link" between the institution and the canton. Supervision, for its part, falls to the Swiss Financial Market Supervisory Authority (FINMA).
This link often takes the form of a guarantee. According to Wikipedia, 21 of the 24 cantonal banks benefit from a full state guarantee: the canton is liable, on a subsidiary basis, for all of its bank's liabilities. In return, the bank pays its canton financial compensation set by cantonal regulations. Banque cantonale vaudoise, Banque cantonale bernoise and Banque cantonale de Genève do not have this guarantee.
The details of this protection, and how it differs from deposit insurance, are covered on our page on the state guarantee of cantonal banks. Wikipedia also notes that negotiations between Switzerland and the European Union on Swiss banks' access to the European market call this guarantee into question. The encyclopaedia relies on an article in the NZZ am Sonntag of 14 February 2016.
How much do cantonal banks earn today?
Bank-by-bank figures stop at 2022 in the sources consulted, but the ASCB publishes more recent totals. According to its press release of 15 April 2026, the 24 institutions posted a combined annual profit of 4.3 billion francs in 2025, despite the fall in interest rates.
The first half of 2026 serves as a dated example. According to the ASCB press release of 21 September 2026, combined operating income rose by 5.0% to 6.1 billion francs. Combined half-year profit reached 2.3 billion, up 5.3% year on year. The association attributes this growth to retail business and product diversification.
These totals cannot be compared directly with the 2022 consolidated profit taken from Wikipedia. The sources do not specify whether the two series are based on the same calculation method.
Key figures
- 24 cantonal banks for 26 cantons, all members of the ASCB.
- 2 cantons without a cantonal bank: Solothurn and Appenzell Ausserrhoden.
- 782.4 billion francs: combined total assets of the 24 banks in 2022 (Wikipedia, based on the ASCB).
- 199.8 billion francs: 2022 total assets of Zürcher Kantonalbank, the largest.
- 21 banks out of 24 benefit from a full state guarantee.
- 19,000 employees and 620 branches (Wikipedia).
- 4.3 billion francs: combined profit of the 24 banks in 2025 (ASCB).
What this means for a saver or an SME
For a customer, the list serves first of all to check the regime of their bank. At 21 cantonal banks, the canton is liable for all of the institution's liabilities. At the three others, in Vaud, Bern and Geneva, only deposit insurance applies.
This deposit insurance, managed by the self-regulatory organisation esisuisse, protects assets up to 100,000 francs per customer and per bank. It covers individuals and companies alike, and applies to all banks with a branch in Switzerland. For an SME holding more in its account, the presence or absence of a state guarantee therefore makes a difference beyond this ceiling. The exact status should be checked with the bank. This page does not constitute financial advice.
What we don't know yet
- The total assets and profit of each cantonal bank for 2025: the sources consulted only give the group totals.
- The legal form of each institution, which the sources do not detail.
- Why the cantons of Vaud, Bern and Geneva do not grant a state guarantee to their bank.
- Where the challenge to the guarantee linked to the negotiations with the European Union stands in 2026, documented by a source from 2016.
Sources
- Wikipedia: article "Banque cantonale", list of cantonal banks based on the ASCB (consulted in October 2026)
- Association of Swiss Cantonal Banks: news and press releases (press releases of 15 April and 21 September 2026)
- 2clics: "Cantonal bank: weight, customers and differences with UBS and Raiffeisen" (HSLU study reported by finews.ch on 26 October 2026)
- 2clics: "State guarantee of cantonal banks: what it covers" (esisuisse deposit insurance)
