Acquisition of cashgate AG completed

Acquisition of cashgate AG completed

Zurich - Cembra Money Bank AG and Aduno Holding AG have agreed to complete the transaction relating to the acquisition of 100% of the shares of cashgate AG on 2 September 2019. The transaction announced on 1 July 2019 will close as planned, after fulfilment of the pre-requisites to closing, including relevant regulatory approvals.

CEO Robert Oudmayer said: "We are happy to welcome on board cashgate's highly experienced team and look forward to bringing together our expertise for the benefit of our clients."

Contacts
Media:	Rahel Lehmann; [phone]; [e-mail]
Investor Relations:	Marcus Händel; [phone]; [e-mail]
Key dates
21 February 2020 18 March 2020	Publication of full-year results 2019 Publication of Annual Report 2019
16 April 2020	Annual General Meeting 2020

About Cembra Money Bank AG

Cembra Money Bank AG is a leading Swiss provider of consumer finance products and services. Its product range includes personal loans, auto leases and loans, credit cards and insurance sold with those products as well as invoice financing, deposit and savings products.

Headquartered in Zurich-Altstetten, the Bank has operations across Switzerland via a network of 16 branches as well as alternative sales channels such as the Internet, credit card partners, independent agents and 4,000 car dealers.

Cembra Money Bank AG is an independent Swiss bank and has been listed on the SIX Swiss Exchange since 2013. It has over 880 employees from 37 nations and 911,000 customers. 2019 Cembra announced the acquisition of the consumer finance provider cashgate.

About cashgate AG

cashgate AG specialises in personal credit and vehicle leasing, and also offers rental deposits. It is among the four largest Swiss consumer credit institutions and has around 160 employees at its locations in Zurich, St. Gallen and Lausanne, as well as at branches in Langenthal, Winterthur, Neuchatel and Geneva.

cashgate AG has some 90,000 customers (personal credit, leasing and rental deposit customers) and maintains a tight distribution network through collaborations with partner banks, garage partners, credit brokers and property management companies.

Media release, 2 September 2019

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