UBS intends to remove all customers who are under sanctions imposed by the country’s government in conjunction with EU countries.
Switzerland’s largest bank, UBS, has begun mass checks on its Russian clients, asking them for documents proving the legality of their stay in the country. RosSMI reported this by publishing one of the letters that the bank sends to customers.
It is noted that UBS requires customers to provide copies of the passport of the country of residence or residence permit in Switzerland by May 5, 2023.
“We reserve the right to block the aforementioned banking relationships from May 6, 2023 if the requested documents do not reach us by May 5,” the letter said.
As follows from the text of the letter, the bank intends to remove all customers who are under sanctions imposed by the country’s government simultaneously in EU countries.
It was previously reported that UBS acquired the bank Credit Suisse, which found itself in a difficult financial situation.
Before Tim, it was learned that Credit Suisse shares had fallen to their lowest level ever after a Saudi investor refused to increase his stake in the bank. Concerns about the financial condition of Credit Suisse stirred the world markets, in particular, the shares of European banks fell sharply.
news Correspondent.net on Telegram. Subscribe to our channel Athletistic
Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.