Bangladesh-linked money in Swiss banks ballooned further in 2025 by 41 per cent from the amount recorded in 2024 when there was a quantum leap of 232 per cent following previous two years' sharp decline.
The picture of much-talked-about 'Swiss bank balance' emerges from the Annual Banking Statistics 2025 released by the Swiss National Bank (SNB) in Zurich on Thursday.
According to the latest SNB data, total such deposits in Swiss banks -- including trade finances, investments, and funds held by Bangladeshi individuals and entities -- stood at CHF (Swiss Franc) 834.16 million last year.
Based on the current average exchange rate of Tk 152 per CHF, the amount is equivalent to approximately Tk 126.79 billion.
In 2024, the corresponding amount was CHF 589.54 million, or Tk 89.61 billion. The figures do not include deposits held through fiduciaries or wealth managers.
As the Bangladeshi taka (BDT) has depreciated against major foreign currencies over the past few years, figures converted to local currency using current exchange rates differ from those published previously by the FE.
Although Swiss bank deposits are often associated with stashed wealth, black money or illegally transferred assets from various countries, the SNB report does not provide any information on the nature or source of the funds.
Its statistics show Bangladesh-linked deposits had fallen to CHF 17.71 million (Tk 2.69 billion) in 2023 and CHF 55.27 million (Tk 8.40 billion) in 2022.
Deposits held by Bangladeshi and other non-Swiss individuals and entities are recorded under the "liabilities" section of Swiss banks' balance sheets.
These liabilities are mainly divided into two categories. The larger component, "amounts due to banks", accounted for CHF 822.71 million (Tk 125.06 billion) of Bangladesh-linked money in 2025.
The remaining CHF 11.45 million (Tk 1.74 billion) was classified as "amounts due in respect of customers' deposits".
The above-mentioned figures exclude deposits routed through fiduciaries or wealth managers. Bangladesh-linked deposits held through such channels amounted to CHF 8.31 million, or Tk 1.26 billion, last year.
A few years ago, Bangladesh Bank prepared an explanatory note on Bangladesh-linked deposits in Swiss banks.
The central bank argued that only around 10-15 per cent of such deposits belonged to individual clients, while the bulk of the money represented funds placed by banks for trade-related transactions.
According to Bangladesh Bank, therefore, only a small portion of the deposits may represent money transferred from Bangladesh and stashed abroad.
The SNB statistics also do not capture funds that Bangladesh-linked clients may have deposited through shadow entities or shell companies.
Meanwhile, total funds held by all foreign clients in Swiss banks declined further in 2025 to CHF 896.38 billion from CHF 977.12 billion in 2024 and CHF 983.45 billion in 2023.
The figure represents total liabilities of Swiss banks, excluding fiduciary liabilities.
The SNB data also show Indian deposits in Swiss banks declined by 7.78 per cent to CHF 3.23 billion in 2025 from CHF 3.50 billion in 2024.
Pakistani deposits also fell by around 13 per cent to CHF 236.35 million from CHF 271.67 million over the same period. These figures likewise exclude deposits held through fiduciaries.
Switzerland's banking system is known for maintaining strict depositor confidentiality -- a feature that has long contributed to the country's reputation as one of the world's leading tax havens.
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