Cembra Money Bank

Cembra Money Bank AG is a Swiss credit institution headquartered in Zurich-Altstetten.[2] Cembra Money Bank operated under the name GE Money Bank until its IPO in early November 2013 and was part of the General Electric Group. Since November 2013, the credit institution has been listed on the Swiss stock exchange. Its main shareholders are currently Pictet, UBS Fund Management (Switzerland), and BlackRock Inc.[3]

Cembra Money Bank
TypeJoint-stock company
ISINCH0225173167
IndustryFinancial services
Founded2013; 9 years ago (2013) (initial public offering, formerly GE Money Bank)
Headquarters,
Switzerland
Key people
Number of employees
1012 (2020)[1]
Websitewww.cembra.ch

HistoryEdit

Bank Prokredit was founded in 1912. In 1998, it came under the wing of GE Capital, which, the year before, had already acquired another Swiss consumer credit business, Bank Aufina, founded in 1953. It was not until 2006 that Prokredit, which had previously belonged to UBS, and Bank Aufina merged under the name GE Money Bank.[4] In the summer of 2013, GE Money Bank was to be sold to the Aduno Group, but the transaction fell through at the last moment.[5] This was followed by the IPO as Cembra Money Bank in the fall of 2013.[6] The successful IPO is considered the first major IPO on the Swiss stock exchange in a long time.[7] The name Cembra is derived from the Latin name for the Swiss stone pine pinus cembra and symbolizes the brand values of Cembra Money Bank.[6] In 2019, Cembra Money Bank acquired cashgate AG from the Aduno Group.[8]

Business areasEdit

Cembra Money Bank offers products in the personal loans, leasing, Credit cards, as well as savings market.[9] The credit institution covers the entire Swiss market and the Principality of Liechtenstein, as well as the neighboring countries.[10] With the issuance of Migros' Cumulus Mastercard, Cembra Money Bank takes about 80 percent of the credit card business.[11] All of the bank's cards can be used with Apple Pay, Samsung Pay, Garmin Pay, Fitbit Pay, and SwatchPay![12][13] In the crowdlending market, Cembra has been cooperating with Postfinance's Lendico since 2018.[14]

ManagementEdit

Holger Laubenthal is CEO and Felix Weber is chairman of the board of directors.[15][16]

ReferencesEdit

  1. ^ "Annual Report 2020". Cembra. Retrieved 30 December 2021.
  2. ^ "Commercial register". Commercial Register. Retrieved 30 December 2021.
  3. ^ "Hauptaktionäre". Cembra Money Bank AG. Retrieved 30 December 2021.
  4. ^ "Cembra Money Bank AG, Bern". Schweizer-Banken. Retrieved 30 December 2021.
  5. ^ Lukas Hässig (16 July 2013). "Vincenz scheitert mit Kauf der GE Money Bank". Inside Paradeplatz. Retrieved 30 December 2021.
  6. ^ a b "Widerstandsfähig und stark verwurzelt". Cembra Money Bank. Retrieved 1 November 2021.
  7. ^ "Cembra Money Bank über Placierungspreis". Neue Zürcher Zeitung (NZZ). 30 October 2013. Retrieved 30 December 2021.
  8. ^ "Cembra und Aduno vollziehen Cashgate-Übernahme per heute". Cash. 2 September 2019. Retrieved 30 December 2021.
  9. ^ "Über uns". Cembra. Archived from the original on 4 November 2013. Retrieved 30 December 2021.
  10. ^ "Cembra Money Bank AG". Moneyhouse. 24 September 2021. Retrieved 30 December 2021.
  11. ^ "Kreditkarten-Deal mit Migros zu Ende: Aktie von Cembra stürzt ab". Cash. 23 August 2021. Retrieved 30 December 2021.
  12. ^ "Mobile Payment - Cembra Money Bank". Cembra. Retrieved 30 December 2021.
  13. ^ Michael Heim (12 December 2018). "Migros-Kreditkarte öffnet sich für Samsung Pay". Handelszeitung. Retrieved 30 December 2021.
  14. ^ Daniel Imwinkelried (28 March 2018). "Postfinance und Cembra verbünden sich im Kreditgeschäft". Neue Zürcher Zeitung (NZZ). Retrieved 30 December 2021.
  15. ^ "Verwaltungsrat". Cembra. Retrieved 30 December 2021.
  16. ^ "Corporate Governance". Cembra. Retrieved 30 December 2021.