Brief: Cembra Money Bank buys Cashgate for 277 mln Sfr to expand loan portfolio

Cembra Money Bank AG

01/07/2019 06:15

July 1 (Reuters) - Cembra Money Bank AG  CMBN.S :
    * SAYS CEMBRA MONEY BANK ACQUIRES CASHGATE AG
    * SAYS SYNERGIES EXPECTED TO LEAD TO AN INCREMENTAL NET
INCOME OF
CHF 25–30 MILLION PER ANNUM FROM 2021 ONWARDS
    * SAYS PURCHASE PRICE OF CHF 277 MILLION
    * SAYS TARGET DIVIDEND FOR 2019 AT LEAST AT THE LEVEL OF
PREVIOUS
YEAR, EPS GUIDANCE 2019 (POST TRANSACTION) CHF 5.20–5.50
    * SAYS  INCREASES ITS FINANCING PORTFOLIO IN PERSONAL LOANS
AND
AUTO LEASES & LOANS BY AROUND CHF 1.4 BILLION TO A TOTAL OF
AROUND CHF 6.2 BILLION

Source text for Eikon:  ID: 
Further company coverage:  CMBN.S 

 (Reporting by John Miller)
 ((J.Miller@thomsonreuters.com;))