Thomas Meier, the Swiss private banking veteran chairing VP Bank, is confident that having ample amounts of capital will be an important factor for clients and investors in the coming months, he indicated to media and analysts at an event held on Wednesday .
«If you cut to the bone now, you won't be in a position to benefit from the recovery,», Meier indicated.It is naturally a matter of some debate as to whether regulatory capital requirements are enough to render Swiss banks immune to future crises, at least enough so that they do not need to have taxpayers come to their rescue again.
That is a stark contrast with the share prices of the Swiss and Liechtenstein-based private banks. The market believes the glory days are over and analysts have been complaining about it to anyone within earshot. UBS is down 14 percent since the start of the year, Zurich-based investment house Vontobel has fallen 23 percent, private banking pure-play Julius Baer is off 16 percent while Credit Suisse has declined more than 40 percent. Even VP Bank's Tier 1 capital ratio, at a very robust 22.
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