The challenges in the banking sector persisted in 2017. The continuous rise in regulatory costs, the sustained period of negative interest rates as well as the political and legal uncertainties in the wake of Brexit and international trade tensions are characteristic of the current environment. However, the Swiss banks are back on the growth track. The aggregate annual profit of the 253 banks rose to CHF 9.8 bn, increasing by 24 percent compared to the previous year. Assets under management reached CHF 7,292 bn – a new record since the financial crisis.