Cembra Money Bank Reports 8% Increase in Net Income for 2024

Cembra Money Bank AG announced an 8% increase in net income for 2024, reaching CHF 170.4 million. This growth is attributed to effective strategic transformation and an improved net interest margin, which rose to 5.6% from 5.2% in 2023. The bank's net revenues also increased by 7% to CHF 550 million. Despite a 1% decrease in net financing receivables to CHF 6.6 billion, mainly in the personal loans sector, Cembra maintained a cost/income ratio of 48.1%, down from 50.9% in the previous year.

Cembra's provision for losses rose to CHF 74.2 million, with a consistent loss rate of 1.1%. The company's funding portfolio decreased by 3% to CHF 6.4 billion, while the share of deposits increased to 55%. Cembra's Tier 1 capital ratio stood strong at 17.9%.

The Board of Directors proposed a dividend increase to CHF 4.25 per share, up 6%. Looking forward, Cembra anticipates growth in net income and targets a return on equity of 14-15% for 2025.