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15 March 2020
ECONOMY

Swiss banks mull $21 billion loan programme for SMEs

The proposal comes after the Swiss government announced that it would deploy an emergency economic-aid package of around CHF 10 billion for workers and SMEs

The plan includes as much as CHF 580 million in emergency bank loans to SMEs, which employ a majority of the labour force/Bloomberg

by Bloomberg

Credit Suisse Group is considering a plan to create a CHF 20 billion ($21 billion) loan programme to aid small and medium-sized Swiss businesses affected by the coronavirus.

Other large lenders—like Raiffeisen Bank International and Zuercher Kantonalbank—are also considering the proposal, which was initiated by Thomas Gottstein, Credit Suisse’s new Chief Executive.

The plan includes as much as CHF 580 million in emergency bank loans to SMEs, which employ a majority of the labour force.


RELATED STORIES: Credit Suisse Group coronavirus

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