Zurich, 20 March 2020 – UBS stands as a strong partner at the side of its corporate clients who have run into liquidity and financing difficulties through no fault of their own due to the Corona crisis. In close cooperation between the Swiss banks and the federal government, the rapid support for the provision of liquidity to SMEs for bridging purposes was announced today.
In addition, UBS has capacity of several billion francs to provide liquidity to its Swiss corporate clients who find themselves in need through no fault of their own. For SME that are particularly hard hit, amortization payments or leasing rates can be temporarily suspended. To this end, internal processes are being streamlined in this exceptional situation and credit competencies in the respective regions are being expanded to enable even shorter decision-making paths.
Sergio P. Ermotti, Group Chief Executive Officer:"UBS supports the comprehensive package of measures announced today by the Federal Council to strengthen the Swiss economy. Being Switzerland's leading universal bank, we are aware of our responsibility and continue to stand by our clients as a reliable partner. Especially in such an exceptional situation, it is important to act quickly and efficiently."
Axel Lehmann, President of UBS Switzerland: "As UBS, we are on top providing billions in liquidity and giving our local decision-makers more authority to enable them to respond even more quickly to the acute needs of our clients who find themselves in need through no fault of their own."
It goes without saying that UBS services will continue to be fully available to all clients. As usual, client advisors and service lines are available to clients for questions and to address concerns. In addition, all banking transactions can be carried out at any time via UBS e- and mobile banking and UBS apps. Of course, Multimats for deposits and withdrawals and all UBS ATMs are always in operation.
UBS Switzerland AG