UniCredit Bank Austria to support its suppliers by providing faster payments
UniCredit is to support its suppliers in Austria, Germany and Italy by accelerating how quickly they get paid, executing ‘at sight’ payments of invoices. This will considerably speed up the payment cycle and ensure payments are made faster than the contractually agreed terms. The acceleration of payments will further support businesses in their working capital management.
Ranieri De Marchis and Carlo Vivaldi, Co-COOs at UniCredit, said: “This decision will have a concrete impact on the thousands of suppliers to our Group. By anticipating payments, we are adding liquidity to the real economy at a time when it makes a real difference. As ever, we want to act as reliable partner to our suppliers and would encourage them to act similarly as regards their own supply chains.”
“As Austria's leading corporate bank, we are a stable and reliable partner for local businesses - from one-person companies to large corporations,” says Tina Pogacic, COO of UniCredit Bank Austria. “By anticipating payments to our suppliers, we not only want to support their liquidity, but also set a positive example of how large companies can help other companies in this crisis situation”.
UniCredit Bank Austria will immediately execute the bank transfers to its suppliers, after having received the invoice and having complied with all standard controls.
UniCredit Bank Austria Media Relations
Volker Moser, Tel.: +43 (0)5 05 05-52854;