Dhaka, June 20 -- Funds held in Swiss banks under the name of Bangladesh have soared more than 33 times in a year, reaching 589.5 million Swiss francs.

The sharp rise in deposits in 2024 marks a dramatic rebound from the previous year, when Bangladeshi-linked holdings had plunged to just 17.7 million francs, or Tk 2.65 billion -- lowest in 28 years, down from 55.2 million francs in 2022.

The SNB report, which offers an annual country-wise breakdown of assets held in Swiss financial institutions, attributed the new figure to liabilities owed by Swiss banks to Bangladeshi individuals and institutions. The 2024 figure is the fifth-highest since 2015. The highest was in 2021, when deposits reached 871.1 million francs.

Switzerland's bankin...