Swiss banks such as Credit Suisse and Julius Baer have stressed how they are expanding into Asia, Latin America and other fast-growing regions, bolstering their standing as domestic markets come under pressure, the Wall Street Journal reported.

Julius Baer’s chief financial officer Dieter Enkelmann said yesterday that the private bank will continue to build Asia into its "second home market," adding that the firm remains committed to Switzerland, the publication said.

Julius Baer, which has recently been an active acquirer and has opened new offices in South American cities such as Caracas, Lima and Santiago, will seek takeovers "in Switzerland and abroad”, and will consider entering mainland China to attract funds, Enkelmann said.

Swiss banks, along with other Western banks, have been building out teams in Asia, for example. Last week, UBS reportedly stated it intended to sharply raise the number of wealth managers in Asia. As far as Latin America is concerned, US firms such as Morgan Stanley and Goldman Sachs, have set up teams in countries such as Brazil.

Credit Suisse "foresees high growth potential in emerging markets and wants to capitalize on this," its chief operating officer David Mathers said yesterday. He added that the bank "is well positioned for an uncertain economic and regulatory environment."

The bank should be able to spur growth by building on its one-bank strategy which promotes a close relationship between investment and private bankers, Mathers was quoted as saying.