The fall in interest rates is putting Swiss banks under pressure, according to the new EY Banking Barometer. +Get the most important news from Switzerland in your inbox Just under half of banks expect operating results to decline in 2025, although a majority expect margins in the interest business to stabilise. + Have foreign leaders hidden money in Swiss bank accounts? Although banks are also likely to report solid results in 2025, these will be below the level of the past two years, according to the Banking Barometer. Of the more than 100 banks surveyed as part of the study, 46% expected a decline in operating results. According to the authors of the study, this is the worst level of sentiment in 15 years. The interest business continues to be the central pillar of earnings for many Swiss banks. With the key interest rates, which have recently been gradually lowered to zero per cent, the interest margin has continuously decreased, the authors of the Banking Barometer note.