The banks in Switzerland are operating in a challenging business environment: uncertainties relating to economic policy, restrictions to market access and the dynamic transformation of market structures are impacting the framework conditions for these institutions. In light of lower margins and the ongoing digitalisation of the financial sector, it can be expected that the structural realignment in the banking sector will continue in the coming years. However, despite the uncertain environment, the adjustment process and the economic challenges, the banks developed very solidly in 2018. The banks’ aggregate operating net income rose by 4.6 percent to CHF 65.3 bn in 2018. Compared to the previous year, the aggregate annual profit of the 248 banks operating in Switzerland rose by 17.3 percent to CHF 11.5 bn. Assets under management decreased by 4.8 percent to CHF 6,943 bn.