Swiss Public Confidence in Banks Drops to Pre-2008 Crisis Levels

Public confidence in Swiss banking institutions has receded, with a late 2025 survey indicating that positive perception has fallen to 53%. This measurement, derived from the eighteenth iteration of the Banking Monitor conducted by the research institute gfs.bern for the Swiss Bankers Association (SBA), places current trust levels on par with those recorded in 2007, preceding the global financial crisis precipitated by the collapse of Lehman Brothers.

This erosion of confidence marks a significant downturn from the peak positive sentiment of 75% achieved in 2021, a period when the sector was credited with administering emergency Covid credit programs and demonstrating commitment to sustainability initiatives. The decline is not uniform across the electorate, revealing distinct fissures along demographic and political lines. Younger Swiss citizens and those identifying with left-leaning political affiliations exhibit significantly diminished confidence in the nation's financial establishments compared to other segments of the population.

For context on shifting priorities, in 2021, approximately two-thirds of survey respondents believed banks were actively engaged in environmental protection, a substantial increase from just 20% in 2017. Despite this, financial market experts surveyed in July 2025 for the Swiss Banking Outlook were forecasting only modest growth in net income for the year, constrained primarily by persistent pressure on interest margins.

The aggregate balance sheet total for Swiss banks remained relatively stable in the first half of 2025, decreasing by only 0.2% to CHF 3,323.3 billion, even after the Swiss National Bank (SNB) cut its policy rate to 0% by June 2025. While the comparison to the 2008 crisis era is evocative, structural differences exist; for instance, as of Q2 2022, Credit Suisse reported a leverage ratio of 15.9 times, compared to Lehman Brothers' 24.3 times in May 2008. The research by gfs.bern, which underpins the data, surveyed 1,005 people with voting rights between October 9 and 31, 2025.

Switzerland's financial sector, historically recognized for stability and rigorous data protection, is navigating a transition where Finance functions are moving from control-focused roles to becoming value-adding business partners, according to a separate 2025 KPMG study. The implications of this trust decline for the sector, which remains a benchmark for stability, will be closely watched as it seeks to maintain its premier position amidst evolving domestic and international expectations.