By Olivia Bugault

UniCredit SpA said late Tuesday that members of top management have decided to waive their 2020 bonus due to the coronavirus pandemic.

"The equivalent amount will be contributed to UniCredit Foundation to support initiatives," the Swiss bank said.

UniCredit also withdrew its dividend and buyback proposals earlier this week.

Write to Olivia Bugault at olivia.bugault@wsj.com

(END) Dow Jones Newswires

April 01, 2020 01:17 ET (05:17 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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