Bangladeshi deposits in Swiss banks surge 41% in 2025, led by banks

Infographics: TBS

Money parked by Bangladeshi nationals and banks in Swiss banks soared 41% last year 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).

With this jump, 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.

Bangladesh yet to pledge commitment to the AEOI

Swiss banks, once famed for client secrecy, have shifted towards transparency, combating money laundering through initiatives like the Automatic Exchange of Information (AEOI) started in 2018 to curb tax evasion.

The exchanged information allows the cantonal tax authorities to verify whether taxpayers have correctly declared their financial accounts abroad in their tax returns.

Identification, account and financial information is exchanged, including name, address, country of residence, and tax identification number, as well as information concerning the reporting financial institution, account balance and capital income.

In 2025, the Swiss Federal Tax Administration exchanged information with 101 countries on around 3.4 million financial accounts within the framework of the global standard on the AEOI.

As of May 2026, the latest update from OECD's Global Forum on Transparency and Exchange of Information for Tax Purposes indicates that Bangladesh has not yet pledged commitment to the AEOI, whereas neighbouring countries such as India and Pakistan have already participated in these exchanges.

Bangladesh ranks second in South Asia

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.