The Swiss Bankers Association today announced it will exclude two Russian banks from its organization.
In light of Russia's attack on Ukraine, the Swiss Bankers Association (SBA) is excluding Gazprombank (Switzerland) and Sberbank (Switzerland) with immediate effect from its organization, the SBA said in a statement released Friday.
In an extraordinary meeting held on March 3, the board condemned the attacks and said it firmly supports the sanctions against Russia which were adopted by the Federal Council.
«Swiss banks maintain strict compliance with all applicable regulations and measures, including sanctions imposed by Swiss, international and supranational bodies. Integrity and reputation are important key factors for the financial centre,» the statement said.
