Mr. Niclaus Bergmann:

An overdraft is expensive because it is a very flexible loan. For an approved overdraft, someone would probably have to pay 7% or 8%. For SMEs we very much look at the risk situation of the individual lender. The riskier this is, depending on our experience and track record with the client, the higher the interest rate will be. When we have the impression of a very good client whom we know for ages, and where we are really convinced what he or she is doing makes a lot of sense, we do not look so much at collateral. It is the business case and our cashflow analysis that are decisive. There can be differences of 1% or 2% between good and not so good clients, so it has to be dealt with individually.