EFG International has announced the sale of its retail banking business in the Swiss canton of Ticino, part of a refocusing regime which prioritises private banking.
The private banking group offloaded retail client assets worth about CHF 1.2 billion to Banca dello Stato del Cantone.
“The transfer of EFG’s Ticino-based retail business, including individual clients and corporate clients who do not make use of its private banking offering, will enable EFG in Switzerland to fo...