SWIFT Announces Rebate for 2005

SWIFT has announced that its users will receive a rebate of at least 5 per cent on their 2005 FIN messaging usage. The Board of Directors will decide whether to increase it beyond 5 per cent at its December meeting. This is the fourth year running that SWIFT has announced a rebate for its community. The 2005 rebate is expected to yield approximately €8m. In addition to 2005 price reductions already announced in June, SWIFT will have rebated €8m in total for the 2002-2005 period. Commenting on the rebate, Francis Vanbever, chief financial officer, said: “Earlier this year, we forecast a surplus for 2005, which led to pro-active pricing initiatives in July. The strong financial performance of the company enables us to grant these rebates while continuing to invest in the quality and resilience of our messaging infrastructure. The definitive rebate percentage will be determined in December and credited in January 2006.”


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