UBS came out on top of the annual survey in the Swiss category of “The Banker Top 1000” rankings, which are based on the definition of Tier ...

UBS came out on top of the annual survey in the Swiss category of “The Banker Top 1000” rankings, which are based on the definition of Tier 1 capital as defined by Basel’s Bank of International Settlements.

The Zurich-based bank beat its rival Credit Suisse into second place with Tier 1 capital of $27.4 billion. Credit Suisse Tier 1 capital was recorded at $21.7 billion, but both banks were way ahead of their nearest rival, Raiffeisenbanken, recording a Tier 1 capital of just $4.2 billion.

Credit Suisse saw the bigger advance in Tier 1 capital, compared with UBS, growing by $9.8 billion in the year to July 2005; UBS saw growth of $4.3 billion.

In terms of other Swiss banks with a major private banking business, EFG Bank European Financial Group, was next on the list, coming in at fifth place with a Tier 1 capital of $3.5 billion. Juluis Baer was ninth on the list with Tier 1 capital of $1.3 billion.

Union Bancaire Privée was in 11th position with Tier 1 capital of $1.2 billion. Vontobel was in 18th place with Tier 1 capital of $859 million, and in 20th place was Banca del Gottardo with capital of $793 million. Bank Sarasin was ranked 23rd with capital of $693 million.

Other notable private banks making the list of 36 banks in the Swiss rankings were: Habib Bank AG Zurich in 28th position ($410 million); BSI in 30th position ($385 million, although this total had fallen the most of all the private banks in the list, by $35.5 million, compared with the last survey in July 2004); and finally, Banque Jacob Safra (Suisse) in 34th position with capital of $240 million.