Credit Suisse bank could restrain 2020 bonuses in a show of unity with victims of the coronavirus epidemic in Switzerland, Chief Executive Thomas ...
ZURICH: Credit Suisse bank could restrain 2020 bonuses in a show of unity with victims of the coronavirus epidemic in Switzerland, Chief Executive Thomas Gottstein said on Monday.
In three business days, Switzerland's second-biggest bank has paid out 1.24 billion Swiss francs in loans to around 7,800 companies since the government last week unveiled a 20 billion franc program of state-backed loans at no or low interest to companies hit hard by the epidemic.
Gottstein said the bank's board would decide in autumn what dividend to propose for 2020, but noted it had stopped a share buyback that accounted for two-thirds of payouts to shareholders.Rival UBS Group stuck to plans to pay a 2019 dividend that is more than half its annual profit.
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