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Migros Bank is a Swiss bank founded in 1958 by Gottlieb Duttweiler and belongs to the Federation of Migros Cooperatives. [1] It has 67 branches in Switzerland (20 new between 2008 and 2016). [3] In 2015, it has a balance sheet of 42 billion Swiss francs and an income of 226 million. [3] [2]
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Barclays Bank (Suisse) SA, Geneva; Barclays Capital, Zurich Branch of Barclays Bank PLC, London; HSBC Private Bank (Suisse) SA, Geneva; IG Bank S.A., Geneva; Lloyds Bank plc, Londres, succursale de Genève, Geneva *Standard Chartered Bank (Switzerland) SA (No offices anymore in Switzerland)
Williams & Glyn's Bank (see Royal Bank of Scotland) Williams Deacon's Bank (constituent of Williams & Glyn's Bank) An extensive list of British banks can be found in Wellings and Gibb, Bibliography of Banking Histories Vol. I: Domestic Banks (1995) ISBN 0 9526727 0 7
In 1941, Gottlieb and his wife Adele Duttweiler transferred ownership of Migros to their customers, as a cooperative. [2] Duttweiler also required that Migros contribute a percentage of profits (actual from the total revenue) to cultural, athletic, and hobby-related activities. This led to the Migros-club-schools and several hobby courses.
In April 2006, Migros announced the M-Budget credit card, an initiative between the Federation of Migros Cooperatives, GE Money Bank and MasterCard, originally with an annual fee of CHF 4.40, which was very low compared to credit card annual fees of CHF 100 for a MigrosBank MasterCard Argent credit card. The card was ready by the autumn 2006.