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Media Release, 17 February 2017 (pdf)
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Zurich – Cembra Money Bank has reached an agreement to acquire 100% of the shares of SWISSBILLING SA, a Swiss-based invoice financing company with operations mainly in the French speaking region of Switzerland. Thanks to this acquisition, Cembra gains access to a best-in-class technology platform that will enable it to extend its range of financing solutions to a broader consumer base. This acquisition is in line with Cembra Money Bank’s strategy to build on its position as a leading consumer finance provider in Switzerland.
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All SWISSBILLING employees will be retained and the existing relationships of the company with its customers will not be affected by the acquisition. SWISSBILLING will continue to operate as an independent entity within the Group under its own name. The current management of SWISSBILLING will continue to be actively involved in the business. The transaction consideration was below CHF 10 million and is expected to have a negative impact of 0.1% on the Group’s CET1 ratio as at closing. The transaction is expected to close within the first quarter of 2017.
Robert Oudmayer, Chief Executive Officer of Cembra Money Bank, said: “SWISSBILLING has established itself as an up and coming player in the invoice financing market in Switzerland. SWISSBILLING will enable Cembra to expand the product offering to retailers and merchants. Next to personal loans and credit cards, their customers can also benefit from invoice financing solutions.”
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Contacts
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Media:
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Andreas Werz; +41 44 439 8512; andreas.werz@cembra.ch
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Investor Relations:
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Christian Waelti; +41 44 439 8572; christian.waelti@cembra.ch
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Key dates
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23 February 2017
24 March 2017
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Publication of full-year 2016 results
Publication of Annual Report for 2016
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26 April 2017
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General Meeting 2017
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About Cembra Money Bank AG
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Cembra Money Bank AG is one of the leading Swiss providers of financial products and services. Its product range includes personal loans, auto leases and loans, credit cards and insurances as well as deposit and savings products.
Headquartered in Zurich-Altstetten, the Bank has operations across Switzerland via a network of 18 branches as well as alternative sales channels such as the Internet, credit card partners, independent agents and more than 3,400 car dealers.
Cembra Money Bank AG is an independent Swiss bank and has been listed on the SIX Swiss Exchange since October 2013. It has over 700 employees from more than 40 nations and almost 750,000 customers.
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