Clientis Zürcher Regional Bank has announced its decision to pull out of the wider Clientis Group as of 2020.
The bank said in a statement that exiting the group will lay the groundwork for the independent expansion of its business activities and would ‘increase its strategic freedom’.
The bank, with total assets amounting to more than CHF 4 billion, said that the decisive factor for leaving the group was its belief that it would be able to respond ‘more directly to changing customer and market requirements and reorient its business model’ if it operated independently.
Rolf Zaugg, CEO of Clientis Zürcher Regional Bank, said: ‘As the largest regional bank in the canton of Zurich, we have the critical mass for developing our own hybrid business model. With the termination of membership, we create the conditions for greater independence.’
Clientis Group will provide services for 27 regional banks in the future, including 14 Clientis banks and 13 other regional banks.