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Cembra Money Bank AG

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Ad hoc news News vom 04.12.2019

Cembra Money Bank and LIPO enter into partnership: the new LIPO Mastercard will be launched

Media release, 4 December 2019

Zurich – Cembra Money Bank AG and LIPO Einrichtungsmärkte AG have concluded a cooperation agreement for a new LIPO Mastercard to be launched. The agreement runs until 2024 with an option to extend.

The cooperation permits Cembra to further expand its position on the Swiss credit card market. Due to its partnerships with Migros, TCS, Conforama and Fnac, Cembra already has more than 900,000 credit card customers. The Bank also operates its own credit card programme.

Jörg Fohringer, Cembra Managing Director B2B, says: “We are very pleased about the new collaboration with LIPO. It allows us to further expand and to offer the customers of LIPO a very attractive credit card with no annual fee and with a worldwide loyalty bonus programme.”

The LIPO Einrichtungsmärkte AG is one of the five largest Swiss furniture companies and is represented at 22 locations throughout Switzerland. LIPO CEO Adrian Grossholz says: “With Cembra we have found the ideal partner for launching our free LIPO credit card. We are pleased to be able to offer our customers an attractive loyalty programme tailored to LIPO.”

Contacts
Media:	Rahel Lehmann; +41 79 689 04 34; media@cembra.ch
Investor Relations:	Marcus Händel; +41 44 439 85 72; investor.relations@cembra.ch

About Cembra Money Bank

Cembra Money Bank AG is a leading Swiss provider of consumer finance products and services. Its product range includes personal loans, auto leases and loans, credit cards and insurance sold with those products as well as invoice financing, deposit and savings products.

Headquartered in Zurich-Altstetten, the Bank has operations across Switzerland via a network of branches as well as alternative sales channels such as the Internet, credit card partners, independent agents and car dealers.

Cembra serves around 1 million customers in Switzerland and has around 1,000 employees from 37 nations. In September 2019, Cembra completed the acquisition of the consumer finance provider cashgate. Cembra Money Bank AG has been listed on the SIX Swiss Exchange since 2013.

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