Cembra reports solid half-year results

Cembra Money Bank AG / Key word(s): Half Year Results Cembra reports solid half-year results 20-Jul-2023 / 07:00 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Ad hoc announcement pursuant to Art. 53 LR

• Net income of CHF 75.1 million, 17% lower than the record result in the prior-year period due to the normalisation of loss performance towards expected levels, and strategic investments in operational excellence
• Net financing receivables up 2% and net revenues up 1% to CHF 253.0 million, with a 12% increase in fee income
• Continued strong loss performance, with a loss rate at 0.7%; cost/income ratio of 53.2%, mainly driven by investments in operational excellence
• Return on equity at 12.2%, with Tier 1 capital ratio of 17.6%
• Further progress in the strategic transformation, including the continued successful card migration, and the strengthening of the BNPL business
• Outlook: resilient business performance expected for 2023

Zurich – In a challenging environment Cembra achieved a solid result and continued to advance its strategic transformation. Cembra’s net income in the first six months amounted to CHF 75.1 million, or CHF 2.56 per share, a decrease of 17% compared to the record results in the first six months of 2022 due to the normalisation of the loss performance towards expected levels after the Covid-19 pandemic, as well as continued strategic investments in operational excellence. Net revenues increased by 1%, with commission and fee income compensating for lower net interest income. The loss performance remained strong at 0.7%. As a result, return on equity came in at 12.2%, and the Tier 1 capital ratio stood at 17.6%.