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The Fifth Switzerland has long ceased to be a fifth wheel, and the ZKB is strongly committed to Swiss nationals living abroad.

For around 100 years now, Zürcher Kantonalbank has supported Swiss expat organisations with financial donations. ZKB has been stepping up its commitment since 2022, and now counts over 5,700 Swiss expatriates among its clients.

Up until the end of the 19th century, Switzerland was a country of emigration. The federal government confined itself to regulating and promoting emigration when economic conditions were difficult. In connection with the emerging need to strengthen a feeling of national identity, it fell to the New Helvetic Society (NHG) to support the Swiss living abroad in preserving their native culture outside of the country. The Organisation of the Swiss Abroad (ASO) was founded in 1916 and a permanent secretariat (ASS) set up in Geneva in 1919. The Fifth Switzerland (in addition to the four language regions) has therefore also become more of a focus for locals. At the behest of its Board of Directors, Zürcher Kantonalbank has repeatedly honoured ASO with smaller awards.

Due to the turmoil of the Second World War many Swiss nationals living abroad suddenly had to flee from eastern Europe to Switzerland, where they arrived penniless. In the first six years after the war alone, the federal government, cantons and municipalities provided CHF 160 million in bridging aid. Zürcher Kantonalbank also felt the impact of these trying times. A Swiss woman born abroad in Dresden had to flee ahead of the advancing Russians. As she couldn’t find work as a trained actress she ended up joining ZKB in 1948, where she worked in the financial studies department. Besides ASO new players came onto the scene during this period which also received donations from the ZKB, such as the Swiss Aid Foundation for Swiss Children Abroad (which organised holiday camps in Switzerland), the Association of Swiss Returnees from Abroad, and the Cooperative Solidarity Fund for Swiss Nationals Abroad (today: Soliswiss). Care was always taken to keep the conditions for Swiss clients abroad the same as for domestic clients and not to treat them as “foreigners”, especially during the Second World War and the period of zero interest rates on foreign current accounts to prevent excessive inflows of capital.


In 1959, the Organisation of the Swiss Abroad of the New Helvetic Society made it possible for these young women to take a holiday in Switzerland. Here they discuss possible excursions in front of the Swiss Abroad Home in Dürrenäsch (AG). Photo: Keystone

Just as the federal government took various measures to strengthen the ties between Swiss nationals abroad and the Swiss Confederation, ZKB also sought to uphold the memory of the homeland, and in 1951 sent all Swiss clients abroad a commemorative book to mark the 600th anniversary of the Canton of Zurich. During the economic boom of the 1960s a new wave of Swiss schools was founded, particularly in South America. This was also evident at ZKB through the allocations to the committee set up to provide assistance to the Swiss schools abroad. From 1977 Swiss people living abroad were allowed to vote at national level, but they had to travel to Switzerland to do so. Since 1992, they have also been able to take part in national referendums and elections by post.


Reception of the Swiss Gymnastics Club Los Angeles in Zurich-Kloten, 1958. The sporting Swiss Abroad troupe went on to perform at the Swiss Shooting Festival, the Swiss Yodelling Festival and the Swiss Wrestling Festival. Photo: Keystone

The growing self-confidence of Swiss nationals abroad, and their importance in both political and economic terms, manifested itself in a plot of land purchased in 1989 as a place where they could feel represented. Inaugurated in 1991, the Swiss Abroad Square forms the end of the “Swiss Path” and is located on a man-made peninsula in Brunnen, directly opposite the Rütli meadow – with a view of the Alps. ZKB contributed CHF 5,000 to the purchase of the square.

By the end of 2023, the Federal Statistical Office counted over 800,000 Swiss nationals living abroad – and the figure is rising. However, two thirds of them are not in faraway countries but in Europe.[1] The growth of the Swiss expatriate community is also reflected in the need for international banking services to provide them with security. Since 2022, the ZKB has increased its services supporting Swiss nationals moving abroad and living overseas. The minimum amount required to open an account, which used to be a prerequisite for establishing a business relationship, was abolished and a specialised ZKB team now looks after over 5,700 Swiss nationals abroad worldwide. The relationship managers’ expertise also provides valuable support to clients preparing to move out of Switzerland. For example, ZKB has created an emigration checklist and produces engaging blog posts (such as one on «Crossing borders: Preparation is key when relocating») on the subject of emigration.

Zürcher Kantonalbank is also in constant contact with organisations and cultivates partnerships that represent and promote the interests of the Swiss abroad. ZKB was therefore once again present as a partner at this year’s Swiss Abroad Congress and celebrates the 100th anniversary of the ASO Congress. Swiss clients living abroad appreciate the ZKB motto of «At home in Zurich, here for you around the world».

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[1] Information from ‘Swiss Abroad | Federal Statistical Office (admin.ch)

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