before 1862

From a federation of 22 independent states, the newly established Swiss federal state creates a unitary economic area with a single currency, an indispensable precondition for the development of the banking system. Switzerland's industrial economy is dominated by the cotton and silk industry, followed by the watch and clock industry. In addition to a number of private bankers, some 170 banks already exist, with a combined balance sheet of over 100 million CHF.

The Swiss financial sector is divided into an internationally-focused private banking sector and organized provident banks. No banks are offering short term credit or investing in large scale projects.

In 1856, the Schweizerische Kreditanstalt (Swiss Credit Bank / Credit Suisse), with a share capital of 15 million CHF, is founded in Zurich.