UBS Donates $1 Million for Coronavirus Relief

UBS Group will donate $1 million to support efforts to contain the global spread of the novel coronavirus.

According to the Swiss financial group, the donations will target frontline responders through domestic charity partners focusing on a range of areas including «timely delivery of medical supplies to the needy, screening and treatment of suspected cases, the development of treatments and vaccines and the construction of medical facilities in the community.

This is a challenging time for many of our employees and customers, their families and the local community. Our thoughts are with the many impacted by the coronavirus outbreak, said David Chin, APAC head of investment banking and China country head at UBS. It is a critical time for us to give back to the community and help authorities in the most affected areas.

In addition to a raft of Chinese firms, UBS joins foreign financial companies such as Japanese insurer Tokio Marine in supporting relief efforts in an outbreak that some estimate could result in damages surpassing the SARS crisis nearly 20 years ago.

Meanwhile, the outbreak shows limited signs of slowing down and has now infected more than 17,000 individuals and claimed the lives of more than 360.