Cembra Money Bank AG provides consumer finance products and services in Switzerland. The company offers savings products, including medium-term notes and deposit accounts; loans comprising cash, consumer, personal, business, and auto loans; credit card receivables; and leasing services for new and used vehicles, including cars, light commercial vehicles, motorcycles, and caravans, as well as corporate leasing services. It also provides financial protection products in case of involuntary unemployment, accident, illness, or disability; travel and flight, and card protection insurance products; investment products; and credit cards, mobile payment, and e-services. In addition, the company offers financing solutions to small businesses under the Cembra Business brand, as well as invoice financing services. The company serves private and self-employed individuals, and small and medium enterprises. It operates through a network of branches, as well as through various sales channels, such as the internet, credit card partners, independent intermediaries, and approximately 4,000 car dealers. The company was formerly known as GE Money Bank Aktiengesellschaft and changed its name to Cembra Money Bank AG in October 2013. Cembra Money Bank AG was founded in 1912 and is headquartered in Zurich, Switzerland.
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. 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.
This was followed by the IPO as Cembra Money Bank in the fall of 2013. The successful IPO is considered the first major IPO on the Swiss stock exchange in a long time. 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.
In 2019, Cembra Money Bank acquired cashgate AG from the Aduno Group.
Cembra Money Bank's mission is to provide its customers with reliable, secure and best-in-class solutions for managing their financial needs.
Cembra Money Bank's vision is to become the leading consumer finance provider in Switzerland by providing seamless, frictionless, and hassle-free experiences for its customers.
Mr. Volker Gloe (Chief Risk Officer & Member of Management Board)
Mr. Christian Schmitt (Chief Technology Officer)
Ms. Alona Eiduka (COO & Member of Management Board)
Edina Jung (Sr. Legal Counsel & Corp. Sec.)
Mr. Eric Anliker (Gen. Counsel & Member of the Management Board)
Recognition and Awards
Cembra Money Bank has been awarded the Most Innovative Bank of the Year Award in 2019 and the Best Corporate Banking Solution Award in 2020.