ZURICH (Reuters) – Swiss banks UBS (UBSG.S) and Credit Suisse (CSGN.S) will postpone paying out part of their 2019 dividends until later this year after mounting pressure from authorities over lenders’ payouts during the coronavirus epidemic.
FILE PHOTO: The logos of Swiss banks UBS and Credit Suisse are seen at branch offices in Basel, Switzerland March 2, 2020. REUTERS/Arnd Wiegmann/File Photo
The move follows bank dividend cancellations or postponements across much of Europe as regulators have heaped pressure on lenders to conserve profits and capital in order to assist the economy.
The two banks were the