Cembra slumps after H1 miss

Cembra Money Bank AG

24/07/2025 09:13

** Shares in Switzerland's Cembra Money Bank CMBN.S are down around 10% after the company's H1 results missed expectations

** Vontobel says H1 profit was 6% below consensus and revenues were 4% lower than estimated

** The broker adds that the shares have performed very strongly so far in 2025 and over the last 12 months

** The stock is up 12% year-to-date

** "Net interest income is significantly worse than we expected. Furthermore, the commission result is disappointing, which we attribute to the margin pressure we expect from credit cards," Zuercher Kantonalbank says

** The stock is on track for its worst day since August 2021 if losses hold

 (Reporting by Cian Muenster)

 ((Cian.muenster@thomsonreuters.com))