Monday, January 9, 2012

26 cantons, but why only 24 cantonal banks


Originally, each canton or half canton had its own Kantonalbank. Due to the difficult economic environment in the early 90s and self-inflicted by mismanagement in the mid 90s are gone, the cantonal banks of Solothurn and Appenzell Outer Rhodes.
The Solothurn cantonal bank was a financial debacle for the first January 1995 to the former Swiss BankCorporation (SBC) and taken out under the new name of Solothurn SoBa bank as a subsidiary. With the mergerof the former Swiss Bank Corporation (SBC) with the former Bank of Switzerland (UBS) UBS made to theCompetition Commission, the support, the Solothurn SoBa bank to sell the latest spring 2003. Already in theautumn of 2000 fulfilled this requirement, UBS and the former sold to Basler Kantonalbank Solothurninsurance, which means that the bank now known as Baloise Bank SoBa.
The Cantonal Bank of Appenzell-Ausserrhoden was disbanded after years of unsuccessful attempts atrehabilitation and the end of 1996 by the then Bank of Switzerland (UBS) acquired and fully integrated into the banking group.




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