Cantonal Bank Duel: Schwyzer Poaching in Aargau – AKB can’t stand this – Canton (Aargau) – Aargau

The two announcements on pages 22/23 in AZ on Wednesday immediately grab attention. On the left in red, the Schwyzer Kantonalbank (SZKB) announces: “Also for Aargauerynnen: Consultants who speak their language, not their dialect.” On the right, in blue, it says: “As you speak Schwiizerdütsch and not Schwyzerdütsch in Aargau, I am in the right place here.” Sender: Aargauische Kantonalbank.

There is no sophisticated joint campaign between the two cantonal banks behind double publicity. AKB’s announcement is more of a reaction to Aargau’s offensive over Schwyz’s competition. “Our ad is supposed to be a fun response to Schwyzers’ pun on their ads in our area,” says Christine Honegger, AKB director of communications, on demand.

What the Schwyzers are doing isn’t exactly known at AKB. President Dieter Widmer personally asked about his CEO counterpart Peter Hilfiker in Schwyz, but apparently did not get a satisfactory answer. The two know each other well, having worked together for years. Hilfiker was with AKB from 1997 to 2010 and, as a member of the executive board, he was responsible for the division of private and corporate clients before moving on to competition in Central Switzerland.

Bank board order to extend the sensors

An interview with Hilfikers in «Bote der
Primitive Switzerland »since last November. “The bank’s board asked us to extend our sensors beyond the canton of Schwyz,” he said, adding confidently, “I can say we are doing quite well.”

Peter Hilfiker is ambitious. In 2019, his bank was named the best cantonal bank in Switzerland and the second best bank in the country by the Zug Institute of Financial Services for the fifth time. This award is an incentive, says Hilfiker.

Aargau is not the only canton in which Schwyz targets new clients. SZKB is active in several cantons in German-speaking Switzerland, from investments to e-hypo businesses, says Peter Geisser, head of communications for the bank. The bank spokesman denies that CEO Peter Hilfiker pays special attention to Aargau due to his AKB past.

The Aargauische Kantonalbank is less offensive. Customers outside the canton are predominantly those who have moved and have remained loyal to our bank, says spokeswoman Honegger. “We are not actively acquiring clients outside of our market area.”

Historically, cantonal banks were tied to the borders of their canton. In the golden 90s, however, the desire to expand grew. The Zurich banking center in particular attracted. Several cantonal banks attempted to establish themselves outside the cantonal edge.

Cantonal banking expert finds “limit”

Now the cantonal banks’ appetite is increasing again in the course of digitization. The mortgage business is particularly interesting, says Christoph Lengwiler, a professor at the Lucerne University of Applied Sciences and a member of the Berner Kantonalbank board of directors. A cantonal bank could use new mortgages or brokerage platforms to attract new clients in other cantons.

Lengwiler sees no contradiction with the state guarantee (the AKB has the same as the SZKB): “On the contrary, businesses outside the traditional market area can diversify and reduce the risk of grouping in their own canton if it is concluded with the necessary caution. ” Targeting Aargau’s potential clients directly, Schwyzer’s campaign also goes a bit far for cantonal bank experts: “Comparative advertising in this way is quite special and limiting in terms of market behavior.