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Cembra Money Bank AG

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Ad hoc news News vom 08.11.2019

Sale of cashgate’s rental guarantee business
Cembra Money Bank AG
 
Media release, 8 November 2019
 
 

Zurich – cashgate AG, a 100% subsidiary of Cembra Money Bank AG, has reached an agreement with a group of real estate management companies to sell the rental guarantee business currently operating under the SmartCaution brand.

 

The parties have mutually agreed to not disclose the purchase price. Cembra Money Bank AG will reflect the transaction in the 2019 financials and maintains its communicated earnings per share (EPS) guidance for 2019.

 

 

Contacts

Media:

Rahel Lehmann; +41 79 689 04 34; [email protected]

Investor Relations:

Marcus Händel; +41 44 439 85 72; [email protected]

 

About Cembra Money Bank

 

Cembra Money Bank 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.