When it comes to financial institutions, not so many can decide to make some quite unpopular decisions as one financial institution based in Genevan recently did to save their clients from a financial and economic meltdown brought about by the Covid 19 pandemic.
The Mirabaud Bank recently decided to forego huge interest and large revenue collection, and instead, they decided to shield their clients from this high taxation. As elaborated by Yves Mirabaud, one of the bank’s senior-most partners for over a decade, the bank decided to take the unpopular thought as an act of humility towards its customers.
Yves Mirabaud went ahead to disclose that the bank is in the final stages of launching what they call a game-changer in the banking and financial market as they plan to launch a techno ology platform. This platform is anticipated to revolutionize how clients consume financial and bank-related services. Digitization is one of the core efforts and mandates Yves Mirabaud and his bank take quite seriously.
In an interview conducted through a local finance publication known as finews.com, Yves Mirabaud begins by categorically accepting that 2020 was not your ordinary year as the bank posted rather disappointing financial statements when looked at in a layman’s eye. In two previous years of 2019 and 2018, the bank had posted some of the most promising and extraordinary financial statements.
Its revenue was at an all-time high. When it comes to 2020, Yves Mirabaud agrees a milliard of challenges faced the year, and despite all these challenges, it proved to be one of the most successful years. The circumstances around Covid 19 informed the bank about taking some rather unpopular decisions and measures that can only get termed as acts of humility. It’s worth noting that the global economy has not been faced with a pandemic like we recently witnessed in the past two centuries.See this article to learn more.
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