UBS and Credit Suisse to partially postpone dividend payout

ZURICH (Reuters) – Switzerland’s two big banks, UBS and Credit Suisse , said they decided to pay out part of their dividend for 2019 later this year after financial markets watchdog FINMA had criticised their decision to maintain a full payout during the coronavirus crisis.

Both banks said in statements on Thursday they had strong capital and liquidity positions, allowing them to support the Swiss economy and their clients in the crisis and also pay out their dividends.

FINMA welcomed the decision in a separate statement.

(Reporting by Silke Koltrowitz; Editing by Michelle Martin)