2018
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Germany
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Russia
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Australia
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UK
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Detailed explanation-1: -While the United Kingdom topped the charts for foreign clients’ money in Swiss banks at CHF 379 billion, it was followed by the US (CHF 168 billion) at the second spot–the only two countries with 100-billion-plus client funds.
Detailed explanation-2: -Swiss banking protects your identity. The main advantage with Swiss banks is that they protect the privacy of their customers. Swiss law creates a kind of “bank secrecy” where it’s actually illegal to divulge the identity of their account holders.
Detailed explanation-3: -The patronage of international clients is critical to Swiss banks and to the Swiss economy as a whole. The Guardian reported that almost half of the 7.9 trillion Swiss francs ($8.59 trillion) of assets under management in Switzerland belong to foreign clients.
Detailed explanation-4: -Although it is derived from “Union Bank of Switzerland, ” the name UBS is not an acronym. The bank is headquartered in Zürich and Basel, Switzerland. The Swiss Bank Corporation was founded in 1854 as the Basler Bank-Verein (Basel Bank Corporation) and became a joint-stock company in 1872.