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UBS probably closes every fifth branch in Switzerland

Zürich The big bank UBS according to a media report, closes further branches in its home market Switzerland. The institute will be giving up 44 of the 239 branches by March, reports the “Neue Zürcher Zeitung” in its Tuesday edition.

In 2020, the bank had already closed 20 branches. UBS wants to keep the 150 employees affected in other branches, and there should be no layoffs for the time being.

According to the report, customers with an account balance of CHF 250,000 or more would have to pay negative interest from July. The threshold is currently still over two million francs.

More: The new UBS boss Ralph Hamers has these three growth options.

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