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.
