{"id":124521,"date":"2020-06-01T12:34:10","date_gmt":"2020-06-01T02:34:10","guid":{"rendered":"http:\/\/leadpakistan.com.pk\/news\/?p=124521"},"modified":"2020-06-01T12:34:10","modified_gmt":"2020-06-01T02:34:10","slug":"credit-suisse-grants-2-9bn-in-corona-credit","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/credit-suisse-grants-2-9bn-in-corona-credit\/","title":{"rendered":"Credit Suisse grants $2.9bn in corona credit"},"content":{"rendered":"<p>coronavirus crisis<br \/>\nTLTP<br \/>\nGENEVA<br \/>\nMajor Swiss bank Credit Suisse has issued 15,400 emergency loans totaling CHF2.8 billion ($2.9 billion) during the coronavirus crisis, says the board chairman Urs Rohner. The numbers are similar at competitor UBS. On March 25 the Swiss government announced a scheme to provide cash-strapped small and medium-sized companies with emergency loans to get through the coronavirus crisis. Companies have to apply for the credit at their main banks. Loans of up to CHF500,000 are interest free while firms pay 0.5% on larger loans of up to CHF20 million.<br \/>\nAt Credit Suisse, smaller businesses have so far received CHF2.2 billion, Rohner said on Saturday. These credits, limited to CHF500,000 at a time, have a 100% federal guarantee. The remaining CHF600 million are loans with an 85% federal guarantee and the bank securing the remaining 15%.<br \/>\nIt was important to make the money available quickly to avoid acute company cash flow problems, Rohner said. The transactions were quite informal and possible to do in just 15 minutes. This showed that Switzerland could get things done when everyone worked together, the chairman said.<br \/>\nCredit Suisse did uncover a few fraudulent loan requests, but only in 0.4% of cases. These were mainly people who embellished the numbers to get a loan, he added.<br \/>\nRohner\u2019s comments come shortly after rival big bank UBS revealed its loan figures. Announcing its first quarter results on Thursday, UBS said that it had processed over 21,000 applications under the federal programme, totaling more than CHF2.5 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>coronavirus crisis TLTP GENEVA Major Swiss bank Credit Suisse has issued 15,400 emergency loans totaling CHF2.8 billion ($2.9 billion) during the coronavirus crisis, says the board chairman Urs Rohner. The numbers are similar at competitor UBS. On March 25 the Swiss government announced a scheme to provide cash-strapped small and medium-sized companies with emergency loans [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-124521","post","type-post","status-publish","format-standard","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Credit Suisse grants $2.9bn in corona credit<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/credit-suisse-grants-2-9bn-in-corona-credit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Credit Suisse grants $2.9bn in corona credit\" \/>\n<meta property=\"og:description\" content=\"coronavirus crisis TLTP GENEVA Major Swiss bank Credit Suisse has issued 15,400 emergency loans totaling CHF2.8 billion ($2.9 billion) during the coronavirus crisis, says the board chairman Urs Rohner. The numbers are similar at competitor UBS. 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On March 25 the Swiss government announced a scheme to provide cash-strapped small and medium-sized companies with emergency loans [&hellip;]","og_url":"https:\/\/leadpakistan.com.pk\/news\/credit-suisse-grants-2-9bn-in-corona-credit\/","og_site_name":"Daily Lead Pakistan","article_publisher":"https:\/\/www.facebook.com\/DailyLeadPak\/","article_published_time":"2020-06-01T02:34:10+00:00","author":"Web Desk","twitter_card":"summary_large_image","twitter_creator":"@DailyLeadPak","twitter_site":"@DailyLeadPak","twitter_misc":{"Written by":"Web Desk","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/leadpakistan.com.pk\/news\/credit-suisse-grants-2-9bn-in-corona-credit\/#article","isPartOf":{"@id":"https:\/\/leadpakistan.com.pk\/news\/credit-suisse-grants-2-9bn-in-corona-credit\/"},"author":{"name":"Web 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