Cembra Money Bank (CMBN) investor relations material

Executive summary

• Net income increased by 5% to CHF 179.6–180 million, driven by efficiency gains, disciplined strategy execution, and growth in vehicle financing.

• Cost savings reached CHF 19 million, supporting a cost/income ratio improvement to 45.2%.

• Ordinary dividend per share increased by 8% to CHF 4.60, with an extraordinary dividend of CHF 1.00.

• Transformation initiatives included technology upgrades, new product launches, and a focus on secured lending and payments.

• CEO highlighted stable net interest margin and progress toward financial targets.

Financial highlights

• Net revenues declined by 1–2% to CHF 542–542.2 million, with net interest income at CHF 372.2 million.

• Cost/income ratio improved to 45.2% (H2: 42.9%), down from 48.1% in 2024.

• Operating expenses decreased by 7% to CHF 245.2 million.

• Tier 1 capital ratio at 17.6%, with ROE at 13.7%.

• Loss ratio stable at 1.1%, with provisions for losses at CHF 73.6–74 million.

Outlook and guidance

• 2026 ROE targeted at around 15%, with net revenue and financing receivables growth in line with GDP.

• Cost/income ratio expected to improve to 39–41% in 2026, with further cost reductions of CHF 15–20 million planned.

• Dividend policy to grow at least in line with sustainable earnings.

• Loss performance expected to remain stable at around 1%.

• No significant business combinations or developments anticipated for 2026.