Credit Suisse founded in Zurich as Schweizerische Kreditanstalt

Background. Alfred Escher, a prominent Swiss politician and banker, sought to secure funding for his railway projects. He opposed state-run railways and French influence, advocating for privatization. Escher founded Credit Suisse jointly with Allgemeine Deutsche Credit-Anstalt to provide domestic funding for railway development, avoiding French banks that wanted to exert influence over the railway system.

Founding. The bank was established in Zurich in 1856. It was modeled after the French Crédit Mobilier but adopted a more conservative lending policy focused on short-to-medium-term loans. The institution opened its doors in July 1856, marking the beginning of its role as a key lender for the Swiss economy.

Purpose. Credit Suisse was created primarily to finance the Swiss Northeastern Railway. Over time, it expanded its scope to fund other public and private sector endeavors. This evolution transformed the bank into an important lender for the Swiss economy and established Zurich as a significant financial center.