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May 22, 2015 8:37 PM ET

Consumer Finance

Company Overview of Cembra Money Bank AG

Company Overview

Cembra Money Bank Aktiengesellschaft, a consumer finance bank, provides various financial products and services in Switzerland. The company offers savings products, including medium-term notes and deposit accounts; loans comprising cash loans, small and medium enterprises (SME) loans, SME credit lines, and vehicle financing products; and leasing services, such as car, motorcycle, light commercial vehicle, caravan, and corporate leasing services. It also provides payment protection, travel and flight accident, and card protection insurance products; and cards. The company serves retail and institutional customers, and small businesses. As of March 26, 2015, Cembra Money Bank Aktiengesellschaf...

Bändliweg 20

Zurich,  8048

Switzerland

Founded in 1912

702 Employees

Phone:

44 439 81 11

Key Executives for Cembra Money Bank AG

Chief Executive Officer and Member of the Management Board
Age: 52
Total Annual Compensation: $1.2M
Compensation as of Fiscal Year 2014.

Cembra Money Bank AG Key Developments

Cembra Money Bank Proposes Increased Dividend, Payable on May 6, 2015

Based on its strong capital position Cembra Money Bank's Board of Directors will propose to the Annual General Meeting on 29 April 2015 a 9% higher dividend per share of CHF 3.10 to be paid out of reserves from capital contributions. The distribution will therefore not be subject to Swiss withholding tax. The dividend reflects a pay-out ratio of 66% of net income. Dividend is payable on May 6, 2015. Ex dividend date is on May 4, 2015.

Cembra Money Bank Reports Earnings Results for the Year 2014; Provides Earnings Guidance for the Year 2015

Cembra Money Bank reported earnings results for the year 2014. For the year, the company reported as a stand-alone bank a 5% increase in consolidated net income to CHF 139.9 million or CHF 4.67 per share. This positive result translates into a return on average shareholders' equity2 of 17.0% while maintaining a very strong capital position with a Tier 1 capital ratio of 20.6%. Costs remained well under control reflected in a solid cost/income ratio of 42.5%. With net financing receivables growing by 2% to CHF 4.1 billion, Cembra Money Bank was able to outperform its markets in all key product lines. Compared to 2013, net revenues increased by 7% to CHF 379.4 million, driven by both net interest income as well as commission and fee income. Net interest income, which accounts for 79% of net revenues, was 7% higher at CHF 301.0 million, reflecting a net interest margins of 7.4%. The main reason for the increase in net interest income was the 32% lower funding costs due to changes in the funding mix (reaching 87% local funding). Income before taxes increased by 5% to CHF 177.2 million while the tax rate remained unchanged at approximately 21%. This led to a net income of CHF 139.9 million representing an increase of 5% compared to 2013. Expected EPS of between CHF 4.50 and CHF 4.70 despite challenging environment. For 2015, the company is currently expecting interest rates to stay at historically low levels and therefore pricing pressure to remain in some of its business lines.

Cembra Money Bank AG, 2014 Earnings Call, Feb 26, 2015

Cembra Money Bank AG, 2014 Earnings Call, Feb 26, 2015

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Recent Private Companies Transactions

Type
Date
Target
Buyback
February 26, 2015
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