The Swiss financial centre with its banks as a leading sector is internationally of great importance. The Swiss financial institutions are some of the global market leaders in many areas. The banking industry contributes an essential part to the value creation and therefore to the wealth in Switzerland.
Mounting consumer pressure for faster, seamless, cheaper and more secure digital payments accelerate the market consolidation. The latest development is the global fund Hellmann & Friedmann, which is fronting an investor group, bidding to acquire the Nordic payment system provider NETS for $5.1bn to extend in the area of e-commerce.
Banks are exploring opportunities for IT to increase their range of services and value proposition. M&A opportunities may arise for smaller IT companies that develop FinTech solutions that can be „plugged in“ to larger corporates.
Russia’s Central Bank announced the launch of a financial rehabilitaion program for Otkritie Group, the country’s largest private financial institution. According to Russian monetary authority, Otkritie requires a significant capital increase (up to 75%) and extensive measures to improve its financial health.
Central banks and governments continue to voice their views on Bitcoin and other cryptocurrencies, which has resulted in prices becoming even more volatile than usual. For example, the recent ban imposed by Chinese authorities on inital coin offerings led to a dramatic drop in Bitcoin prices.
Canadian wealth manager Canaccord Genuity has acquired UK based wealth manager Hargreave Hake for circa £80m. The Hargreave Hale business will be merged with Canaccord’s existing UK wealth management business.
Canadian Imperial Bank of Commerce has completed the $5bn acquisition of Chicago-based PrivateBancorp. According to CIBC CEO Victor Dodig, the deal has been almost three years in the making.
Macquire Group acquired the UK Government’s Green Investment Bank for £2.3bn. The Green investment Bank provides banking and lending services to eco-friendly projects.
The following analysis are limited to the Swiss Banking and are disclosed separately for the Swiss private and retail banks. Based on valuation multiples, valuation trends over the last five years were analyzed.