UniCredit today announces that it will continue to support its suppliers by extending its faster payments initiative until the end of 2020. Paying suppliers faster means paying invoices "at sight", rather than by standard contractual terms, thereby considerably speeding up the payment cycle and helping businesses with their working capital needs.
Carlo Vivaldi, Co-Chief Operating Officer of UniCredit, said: "By paying businesses faster, we provide concrete support to thousands of suppliers across the Group, adding liquidity to the real economy at a time of need. We are committed to being part of the solution and support businesses of all sizes during these challenging times."
Since the start of the initiative, UniCredit has paid over 15 thousand suppliers Group-wide significantly faster versus the standard terms.
The bank will continue to immediately execute payments to its suppliers until the end of the year, always in compliance with all standard local controls.
Milan 5 August 2020
UniCredit Media Relations: