Hinduja Bank (Switzerland), a Sfr2.3 billion private bank controlled by the Indian billionaire family, has declared it will stay in the country and invest in growing its business there, in an effort to quell speculation over its future following comments over the summer from Gopichand Hinduja.

In a statement on September 1, the bank's vice-chairman Michel Broch said that while the drive towards greater transparency in banking might cause concern "for some", this was "emphatically not the case" for Hinduja Bank.